Construction of new homes falls in USA. 6.5% in May

June 19, 2014

By region, the largest decline was recorded in new homes in the west, with a reduction of 15.2%, and in the south, with a decline of 7.3%.

Construction of new U.S. homes fell 6.5% in May to stand at an annual rate of one million units, according to the Commerce Department reported today.

Permits for new construction, an indicator of longer-term trend suggests that the evolution of the housing market, fell 6.4% to settle at an annual rate of 991,000 units, the slowest pace in four months.

These data are slightly lower than expected by analysts and show the slow recovery of the U.S. housing market after the profound crisis of 2008.

The beginnings of new homes fell in both the townhouses and apartment buildings segment.

By region, the largest decline was recorded in new homes in the west, with a reduction of 15.2%, and in the south, with a decline of 7.3%.

On the contrary, slight improvements in the Northeast and Midwest United States were recorded.

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