The number of new buildings in the USA in July grew by 22.6%, better than forecast

According to the US Department of Commerce, the number of new homes in the US in July increased by 22.6% compared to the revised figure in June to 1.496 million. Analysts had expected the number of new developments to rise to 1.24 million from the initial June value of 1.186 million.

At the same time, the number of building permits in the United States in July rose by 18.8% to 1.495 million. Analysts had forecast a rise in the figure to 1.32 million permits from the original June level of 1.241 million.

The indicator of the number of new buildings reflects the number of new houses, the construction of which has already begun. The need for loans for housing construction makes this indicator extremely sensitive to the level of interest rates in the country. The increase in construction volumes testifies to positive trends in household incomes and has a positive effect on the dynamics in related industries.