The number of new buildings in the USA decreased by 11% in August
MOSCOW, September 19 – RIA Novosti. The number of new U.S. homes started under construction in August fell 11.3% to 1.283 million from the revised July figure, the Commerce Department said.
Analysts researched by the portal DailyFXA decrease was expected to 1.44 million, from 1.452 million in July, which was revised to 1.398 million new buildings.
Compared to August 2022, the number of new homes in the United States decreased by 14.8% in the reporting month.
The number of building permits in the US in August rose 6.9% to 1.543 million compared to the revised July figure. Analysts expected the figure to be 1.443 million permits.
New Home Sales volume is an important indicator of the state of the real estate market and the economy as a whole. The increase leads to increased spending by new homeowners on furniture, housing and communal services, which increases demand for goods, services and labor. Additionally, more than half of all construction in the United States is residential. Thus, the dynamics of residential real estate sales throughout the chain are transferred to other sectors of the economy.
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Source: Ria
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