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The biggest drop in five years! The U. S. housing starts number accidentally a new low for 18 months

by:Deyuan      2020-12-23
According to the latest figures, the housing construction may give us a drag on economic growth in the third quarter.

in September this year the decline in housing starts number for the second straight month, down to 104. 70000, a new low since march last year, not only start 12 less than expected. 80000, rose also reduced by more than 110000 households, but also fell by nearly 12%, compared to the same decline since April 2011.

show housing starts the trend of construction license number in September fell broke through 1. 22 million, the highest since last November, not only higher than expected 60000 households and former value of more than 10000 households, September 6. 3% year-on-year growth for the largest since November last year.

housing starts in September an apparent driver is multi-family housing. Such households from housing housing starts and year-on-year fell 38% and 40 respectively. 8%, single-family residential housing starts rose during the month and also compared to the increased by 8 respectively. 1% and 5. Since February this year increased by 4%, to 78 at most. 30000 households.

has also under the influence of multi-family residential building permits. This kind of housing housing permits from high 16. 8%, heralding the single-family residential housing starts this month number will increase.

there will be economic impact but housing market positive outlook unchanged

the bloomberg news agency reported that about 3% of American GDP contribution by the housing construction, housing starts in September number drop could mean that the housing construction drag on GDP growth for the second consecutive quarter.

but the report predicts that due to job growth robust, mortgage costs close to historic lows, pay to speed up the rise, consumer access to credit expansion, housing sales is expected to be pushed, and then encourage developers to increase new housing projects.

the Reuters report noted that given the fastest pace for 10 years, the housing rent multi-family residential housing starts in September number tumbled may only be a temporary phenomenon.

Reuters also think that a tightening labor market supply, steadily promote salary rise faster, as well as low mortgage rates is supporting the housing market demand. Single-family residential housing starts number and because the market to sell this kind of owner-occupied housing shortage.

on Wall Street see real-time news said, citing the U. S. Commerce Department data released tonight

the U. S. housing starts in September 104. 70000, for the lowest since march, 2015, 117 expected. Before 50000, 114. 20000 to 1. 15 million.
housing starts from September - the United States 2, 9% expected. Value - 9%, before 5. Revised to - 8% 5. 6%.

the permits in September 122. A last November to high of 50000; Expected 116. Before 50000, by 113. 90000 to 115. 20000.
the construction license from September 6. 1 3%, expected. By 1%, the former value - 0. Correction of 0 4%. 7%.
housing starts and building permits data was released, the market did not see obvious fluctuation. U. S. stocks rose slightly, opening the s&p 500, the dow and the nasdaq rose 0 respectively. 07%, 0. 10% and 0. 08%.
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