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Ongoing negative development in US housing starts

06.11.2017 − 

The storms across southern and eastern USA at the end of August and in September meant fewer housing starts in the USA. Nevertheless, Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and building contractors from Kerrville, Texas, expect a general recovery in housing construction over coming months.

Adjusted to account for seasonal fluctuations, housing starts in the twelve-month period up to and including September declined by 4.7% to 1.127 units vis à vis the twelve months up to and including August. The declining trend recorded since July therefore continued in September. Categorised according to building sizes, the US Census Bureau also recorded a 4.7% decline to 829,000 units for detached houses. In multi-family houses with five or more apartments, the number of housing starts was 6.2% below the preceding month’s figure at 286,000 units.

In the period covered by the report building permission granted declined by 4.5% to 1.215m m³ units. The number of approved detached houses rose by 2.4% to 819,000 units. Approvals for dwelling units in buildings with two to four apartments remained stable by comparison with the preceding month at 36,000. The 17.4% decline in multi-family houses to 360,000 approved dwellings, however, could not be fully compensated by this.

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