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March 22, 2016

US housing construction expected to rise 13.4% this year

Economic recovery, a drop in unemployment figures as well as an increase in the number of private households are expected to lead to a rise in demand for housing in the USA over the course of the current year.

Against this background the US National Association of Home Builders (NAHB) expects an increase of 13.4% vis à vis last year to a total of 1.26m units in the number of new housing construction starts.

The number of detached house building starts is expected to increase by 18% to 840,000 units. Regarding multi-family houses, the association predicts an increase of 5% to 417,000 units.

In the case of housing renovation work, however, virtually no increase in building activity is expected.

In 2015, with 1.111m new construction units commenced, there was an increase of 10.8% vis à vis the preceding year. Approvals for housing construction increased by 12% last year to 1.178m units. The number of residential units completed last year increased by 9.3% to 965,700.
 

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