News Tag: housing starts
March 2, 2010
Respected US billionaire investor Warren Buffett has said the problems in the US property market will be over within a year.
In his annual letter to shareholders in Berkshire Hathaway, the investment group controlled by Mr Buffett, he said prices will remain 'far below bubble levels' for the medium term.
He added: "People thought it was good news a few years ...
Buffett confident of US housing market recovery
by Kay Murchie
February 17, 2010
The Commerce Department has today revealed US housing starts increased for the month of January but building permits were down.
According to the Commerce Department, construction of new US homes rose 2.8% during the month to a seasonally adjusted annual rate of 591,000 properties.
While this represented the highest level in six months, the figures are still far below the ...
US housing starts and industrial production rise
by Kay Murchie
January 21, 2010
The Commerce Department has revealed a fall in housing starts for the month of December but building permits rose.
According to the Commerce Department, construction of new US homes fell 4% during the month to a seasonally adjusted annual rate of 557,000 properties. The fall was primarily due to bad weather which hit most of the country.
Meanwhile, applications for ...
US housing starts fall, producer prices up
by Kay Murchie
December 17, 2009
The Federal Reserve yesterday opted to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected.
The Fed acknowledged that the economy is strengthening and said it will keep rates “exceptionally low” for “an extended period”.
Evidence that a recovery is on track came yesterday after official data revealed that US inflation remains ...
Fed keeps interest rates at record low level
by Kay Murchie
December 16, 2009
The US economy received a boost today after the Commerce Department revealed a rise in housing starts for the month of October, recovering from the slump in September.
According to the Commerce Department, construction of new US homes surged 8.9% during the month to a seasonally adjusted annual rate of 574,000 properties.
The figure was in line with market expectations and suggests ...
US housing starts and producer prices up
by Kay Murchie
October 25, 2009
The National Association of Realtors has revealed a surprise rise in sales of previously owned homes in the US for the month of September.
The industry body said sales surged 9.4% to an annual rate of 5.57 million in September, up from 5.09 million the previous month.
The rate far exceeded analysts expectations who had expected a rise to 5.35 million units.
The national ...
US home sales in surprise rise
by Kay Murchie
October 20, 2009
The recovery in the US was thrown into doubt today after the Commerce Department revealed housing start figures for the month of September.
While construction of new US homes rose during the month, it was below economists’ expectations.
According to the Commerce Department, construction of new US homes rose 0.5% during the month to a seasonally adjusted annual rate of 590,000 properties ...
US housing starts rise, producer prices fall
by Kay Murchie
September 18, 2009
The US economy has received a further boost after the Commerce Department revealed a rise in housing starts for the month of August.
According to the Commerce Department, construction of new US homes rose 1.5% in August to an annual rate of 598,000 properties.
The rise was the fastest since November 2008, giving hope that the world’s largest economy is emerging from recession. ...
US housing starts rise in August
by Kay Murchie
August 22, 2009
House building in England has surged, with figures from the Department for Communities and Local Government showing a 63% quarterly rise in the number of new starts.
During the three months to the end of June work began on an estimated 29,980 homes although the figure fell 9% short when compared to the same period of 2008.
The second quarter of 2009 also saw ...
New housing starts up 63%
by Gill Montia
August 20, 2009
Government figures released today revealed a shock rise in the number of US workers filing new claims for jobless benefits.
The Labor Department said initial claims for state unemployment insurance benefits rose 15,000 to a seasonally adjusted 576,000 in the week ending August 15, up from 561,000 the previous week.
Linda Duessel, market strategist at Federated Investors in Pittsburgh, said: "I think that ...
US jobless claims in surprise rise
by Kay Murchie
August 18, 2009
The Commerce Department has revealed a fall in US housing starts for the month of July ending three months of gains.
According to the Commerce Department, construction of new US homes fell 1% in the month to an annual rate of 581,000 properties.
However, there was a fifth straight monthly rise in single family home starts, increasing 1.7% compared with the ...
US housing starts post surprise fall in July
by Kay Murchie
July 17, 2009
The Commerce Department has today revealed that US housing starts and permits rose higher than expected in June.
According to official figures, new housing starts rose 3.6% to 582,000 units - the highest level in seven months. This is the second month in a row that housing starts have risen following record lows in April.
However, the Commerce Department did point ...
US housing starts rise to 7-month high
by Kay Murchie
June 16, 2009
The US Commerce Department has today revealed that housing starts and permits rose in May, recovering from record lows in April.
According to official figures, new housing starts soared 17.2% (the largest rise in three months) to an annual rate of 532,000 units in May, up from April's figure of 454,000.
However, the rate was still down 45.2% compared with May ...
US housing starts recover from record low
by Kay Murchie
February 19, 2009
The US Federal Reserve has slashed its economic forecast for this year with a fall of between 0.5% and 1.5% expected.
The forecast has been revised downwards after the Fed said in October it anticipated output of between a shrinkage of 0.2% and growth of 1.1%.
Meanwhile, the Fed’s Chairman, Ben Bernanke, said they are considering setting a specific inflation target in ...
US Federal Reserve slashes economic forecast
by Kay Murchie
February 18, 2009
The US Commerce Department has revealed that US housing starts fell by 16.8% last month - the lowest level since the Commerce Department started collecting data in 1959.
The construction of new houses and apartments fell to an annual rate of 466,000 units in January, much less than the forecasted rate of 530,000 by analysts.
Ian Shepherdson, chief US economist at ...
US housing starts fall to record low
by Kay Murchie
January 26, 2009
Figures from the National Association of Realtors have revealed a surprise rise in US home sales in December, as buyers took advantage of lower house prices.
The organisation said sales of existing homes rose 6.5% to an annual rate of 4.74 million, from 4.45 million in November.
According to the National Association of Realtors, for 2008 overall, sales declined 13.1% to 4.91 ...
Americans take advantage of lower house prices
by Kay Murchie
December 16, 2008
The Construction Products Association (CPA) and Ernst & Young, which jointly produce a quarterly barometer of the construction sector, have reported that the number of homes being built in the UK has fallen to its lowest level since 1924.
Housing developers hit by plummeting sales have been mothballing new projects and so far this year housing starts are down to 135,000, compared ...
New housing starts lowest since 1924
by Gill Montia
November 24, 2008
House building figures for the three months to the end of September have been released by the Department of Communities and Local Government.
The statistics show that new housing starts in England stood at an estimated 22,200, with the seasonally adjusted figure down 33% of the previous three months and 48% lower than a year earlier.
During the three months to the end of ...
New housing starts fall 48%
by Gill Montia
August 19, 2008
Official figures show that the number of homes and apartments being constructed in the US plummeted to the lowest level since March 1991.
According to the Commerce Department, the 11% fall to an annual rate of 965,000, the lowest level for over 17 years, followed a 1.084 million rate the previous month.
In addition, building permits, an indication of future construction, also ...
US housing starts at 17-year low
by Kay Murchie
