USA property housing starts increase
The number of new single-family homes increased by 4.4% to a seasonally adjusted annual rate of 470,000 units in December, according to the U.S. Commerce Department, acting as a further indication that USA property market conditions are improving. It is the third successive rise for new single-family homes, and the fastest pace since April 2010.
“Today’s report adds to the growing evidence that demand for new, single-family homes is finally starting to firm up in an increasing number of markets nationwide,” says Bob Nielsen, chairman of the National Association of Home Builders.
He added: “This emerging trend is allowing builders to put more crews back to work, and could be even stronger if not for the overly tight credit conditions that prevail for both builders and buyers, as well as the continuing foreclosure crisis and the challenges of obtaining accurate appraisal values on new homes.”
By the end of 2011, overall housing production reached 606,900 units – 3.4% better than the overall number of starts in 2010.
Regionally, December housing starts increased by 54.8% in the Midwest following a big decline the previous month. The Northeast posted a 41.2% fall that offset a big gain in the previous month, while the South and West also posted declines of 3% and 17.6%, respectively.
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