mardi 17 mars 2015
Home Starts Plunge on Weather While U.S. Building Permits Rise
Posted on 05:52 by nice news
Beginning home construction plunged in February by the most in four years on colder-than-usual temperatures and snowstorms in parts of the U.S., while an increase in building permits indicated the drop may prove temporary.
Housing starts slumped 17 percent, the most since February 2011, to an 897,000 annualized rate after January’s revised 1.08 million pace, the Commerce Department reported Tuesday in Washington. The median estimate of 80 economists surveyed by Bloomberg called for 1.04 million. Ground-breaking in the Northeast plummeted by the most on record.
An increase in permits for future projects signals a rebound in residential construction that contributed little to economic growth in 2014. While sales remain challenged by limited supply of cheaper homes and sluggish wage growth, stronger hiring and low borrowing costs have fueled gradual progress in the industry.
Housing starts slumped 17 percent, the most since February 2011, to an 897,000 annualized rate after January’s revised 1.08 million pace, the Commerce Department reported Tuesday in Washington. The median estimate of 80 economists surveyed by Bloomberg called for 1.04 million. Ground-breaking in the Northeast plummeted by the most on record.
An increase in permits for future projects signals a rebound in residential construction that contributed little to economic growth in 2014. While sales remain challenged by limited supply of cheaper homes and sluggish wage growth, stronger hiring and low borrowing costs have fueled gradual progress in the industry.
Home Starts Plunge on Weather While U.S. Building Permits Rise
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