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U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage.
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The Commerce Department said that builders started construction at a seasonally adjusted annual rate of 1.16 million units last month, US housing starts slumped 8.7 percent in February Home
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February saw new-home groundbreakings in the U.S. fall by 8.7 percent, the most in eight months, according to a government report released on Tuesday. Tags: Housing Market, new construction.
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· Housing starts were expected to pick up last month because of a surge in building permits in April. In May, building permits fell 3.1% to an annual rate.
Housing starts in the United States fell 1.1% to 698,000 units in February, down from 706,000 in January, the government said Tuesday. At the same time, the Commerce Department reported that.
New-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage rates. Residential starts fell 8.7% to a 1.16 million annualized rate, below estimates, after an upwardly revised gain the prior month, according to government [.]
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U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage rates.
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Housing starts slipped 5.8 percent to a seasonally adjusted annual rate of 654,000 units, the Commerce Department said on Tuesday. The long-moribund housing sector has showed signs of an incipient.
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The housing report came a day ahead of the Bank of Canada’s next interest rate decision