Rising home prices and countervailing duties hit the US housing market

Fuente:
Fordaq
Vistas:
2056
  • text size

 .

The number of building permits issues, which indicates future building activity, increased 7% in June from the previous month at a seasonally adjusted annual rate. Multifamily permits grew at a higher rate than single-family authorizations.

Builders’ confidence in the market for new single-family homes slipped in July. It is at the lowest level since November 2016, according to the National Association of Home Builders/Wells Fargo Housing Market Index. High sawn softwood prices are a particular concern to builders, after the US imposed preliminary countervailing duties on most Canadian softwood in April.

Sales of existing homes sales declined in June but remained slightly higher than in June 2016, according to the National Association of Realtors. Demand for homes remains strong, but rising home prices and low inventory dampened the sales pace.

The average sales price of new homes sold in the U.S. rose by almost 12% during the year to February 2017, to US$390,400, according to the U.S. Census Bureau. Overseas buyers and recent immigrants purchased almost 50% more residential property in the 2016- 17 financial year compared to the same period earlier according to the National Association of Realtors.

Publica comentario