Recent
reports by the Commerce Department of US said that the housing market
starts to fall at around 4.8% last May 2012 and adjusted the rates to around
708,000. During the previous months where the multi-family housing market is
gaining momentum where providers of licensing
in real estate are happy too, now the said market seemed dropped at around 21.3%
and with the Single Family housing market rising at 3.2%, as the report says.
However, the Commerce Department
saw and reported a rising number in home construction permits last May 2012. This
had been one of the signals analyzed by property experts as it has a huge role
in the recovery process of the US housing market.
It was around 7.9% last (May)
month that the home building permits rose to its numbers, highest since Sept ’08
when the whole US suffered their worst market and economy crisis since the Great
Depression.
Commonwealth Foreign Exchange
chief market analyst Omer Esiner state to Reuters that:
“A disappointing
headline number on the housing starts that looks to be partially offset by a
much higher than expected permits number for April. So on balance, the numbers
are a push, one cancels out the other. In the broader scheme of things, this
housing data will get lost ahead of the Fed meeting today and tomorrow.”
No comments:
Post a Comment