The house builders in the United States increased housing construction in April at the fastest pace in seven and a half years, which gives a new boost to the economy in recent months had shown hesitation.
The Commerce Department reported that the number of houses that began construction grew by 20.2% in April, to reach an annualized rate of 1.14 million homes. That figure is the highest recorded since November 2007.
The builders seem to have left behind a difficult winter (boreal) which caused the closure of buildings and halted economic growth.
number of houses that began construction grew in the northeastern United States as well as in the center and west, while it declined slightly in the south. The construction of single-family homes rose 16.7% in April while the department grew 31.9%.
The permits for building construction also increased 10.1% compared to March to reach a rate annualized 1.14 million in April.
Sales of existing homes rose 6.1% in March to reach an annual rate of 5.19 million reported last month the National Association of Realtors . But the market has only one offer for 4.6 months, compared to six according to economists reflect a healthy market. An increase in construction in April, which would raise the rate of construction to its highest in three months could mean that suppliers are close to meeting demand.
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