February 3, 2000 |
U.S. consumers bought new homes at a faster than expected pace in December, the government said Wednesday, capping a record year for the housing market that may finally be showing signs of slowing under the weight of higher interest rates. The Commerce Department said the number of new single-family homes sold in December rose 4.5% to a seasonally adjusted annual pace of 900,000 units, faster than the 889,000 pace economists expected.
October 26, 1999 |
In yet another sign that the residential real estate market is moving along at a steady pace, sales and prices of existing homes posted year-over-year gains last month in both California and the rest of the nation. State sales of existing homes in September rose to a seasonally adjusted annualized rate of 708,680--a 12.8% jump from the 627,990 pace recorded in September 1998. California sales increased 8.9% from August.
August 18, 1999 |
Builders broke ground on new homes and apartments at a faster-than-expected pace in July, the government said in a report showing a robustness in the housing sector despite higher mortgage rates. Starts rose by 5.7% in July to a seasonally adjusted annual rate of 1.66 million units, beating Wall Street economists' forecasts of a 1.61-million-unit rate. They recouped almost all of June's 5.8% decline. Building permits issued in July, an indicator of future activity, fell a slight 0.
June 21, 1999 |
Figures on growth, manufacturing, housing and employment this week are expected to point to a U.S. economy that's in no danger of slowing much, even if the Federal Reserve raises interest rates next week. Gross domestic product, the total output of goods and services, probably expanded at a 4.2% annual rate in the first quarter, higher than the government's previous estimate of 4.1%. The Commerce Department is scheduled to release the report, the final first-quarter GDP estimate, on Friday.
April 17, 1999 |
U.S. industrial output barely inched ahead in March and a booming home-building industry showed signs of leveling off, according to government and Federal Reserve reports, implying that the economy faces little threat from inflation. Manufacturing production showed a flat 0.1% gain last month after rising 0.3% in February, the Fed said, helping slow output to its weakest rate in more than 8 1/2 years.
April 16, 1999
The Commerce Department today will issue its monthly report on construction starts for new housing. Analysts are predicting that housing starts for March held at a high level: 1.742 million, at a seasonally adjusted annual rate, versus 1.799 million for February. The Federal Reserve is expected to report today that output of the nation's factories, mines and utilities increased 0.2% in March, the same as in February.