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Construction Spending US: May 2015
The Census Bureau reported Wednesday that overall construction spending in the US increased in May: The US Census Bureau of the Department of Commerce announced that construction spending during May 2015 was estimated at a seasonally adjusted annual rate of US$1,035 billion, 0.8 per cent above the revised April estimate of US$1,027 billion. The May…
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Housing Analysis: US Home Prices Edge Higher As Supply Declines
The upward pressure on US home prices is being driven more by supply than demand. And this is lifting the housing sector of late: • Momentum in US sales of both new and existing homes; • Post-bubble burst, price has appreciated much faster than sales improvement; and, • Builders express optimism but are cautious in…
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Homeownership vs Rental Rates, US
Amercia’s homeownership rate has been falling for eight years, down to 63.7 per cent in 1Q this year from a peak of over 69 per cent in 2004, according to a new report released by Harvard University’s Joint Center for Housing Studies, said the New York Times Wednesday. The flip side of the decline in…
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US New and Existing Home Sales: April 2015
Following the pullback seen in the previous month, the Commerce Department released a report on Tuesday showing that US new home sales climbed 6.8 per cent to an annual rate of 517,000 in April from the revised March rate of 484,000. Meanwhile, the National Association of Realtors reported Thursday that the median price of an…
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US Housing Starts: May 2015
Groundbreakings of new homes in the US surged to a seven-year high in April before falling 11 per cent last month, the Commerce Department said Tuesday. The level of activity remained stable in May at an annual rate of 1.04 million units, and signs pointed to further gains in coming months. Housing Starts, US US…
