Friday, September 30, 2022

US real estate market: housing begins pathetic

american real estate market

US housing starts (July) significantly weaker than expected at -9.6% and an annual rate of 1.446m (forecast was an annual rate of 1.540m; last month -2.0% at 1.599m). This means that the downturn in the real estate market in the United States is becoming ever more apparent!

US building permits (also July) – slightly better than expected at -1.3% and an annual rate of 1.674m (forecast was an annual rate of 1.650m; last month was 1.696m).

This means that US housing starts are weak from February 2021, and US building permits are weak from October 2021.

Yesterday, the NAHB House Market Index, which measures the mood of “home builders”, was much weaker than expected at 49.

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