The US Census Bureau recently released the economic indicators of the country. In a report from Nasdaq, the data is seasonally adjusted, including median and average prices for the housing market.
According to the figures released, housing starts for May was at 1,036, multiplied by 1,000. This is a decline of 11.1 percent compared to the April 2015 housing starts numbers. This also is reflective of the number of permit applications for the month of May, which stood at 1,275, which is an 11.8 percent increase.
In another report, this time from tradingeconomics.com, new home sales for June stood at 1,036 (multiplied by 1000) which is a decline compared to May 2015's figures of 1165 (multiplied by 1000). The range of prices was from $513,000 to $2,494,000 for the previous month.
As for mortgages, the rate for the month was at a steady 4.19 percent with applications increasing by 1.6 percent. Overall, the home ownership rate in the United States was at a robust 63.7 percent.
Other noteworthy figures, found on www.census.gov/economic -indicators/, include that construction spending for April 2015 was pegged at $1.006 billion, which is an increase of 2.2 percent from the March 2015 figure of $984.0 million.
Rental vacancies on the other hand, for the first quarter of 2015 was at 7.5 percent, a decline of 1.2 percent from the same period in the previous year.
All these figures in sum, show that the consumer confidence in the US economy is rising and with it the recovery is in full swing. In a report from investing .com, the steady increase of home sales is indicative of market growth and consumer confidence. The figures for May and June are the highest since April of 2006. What abates a full growth pattern is the absence of first time buyers or so called millennials who are still saddled with student debt who instead rent instead of purchase homes.
