This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6767647.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| New US homes see decline in May | New US homes see decline in May |
| (10 minutes later) | |
| The number of new US homes built in May fell more than many analysts expected, according to official figures. | The number of new US homes built in May fell more than many analysts expected, according to official figures. |
| The Commerce Department said that the number of new homes built dropped by 2.1% in May, after rising 1% in April. | The Commerce Department said that the number of new homes built dropped by 2.1% in May, after rising 1% in April. |
| However, while construction fell to 1.47m units there are signs that the sector could be picking up as new home permits rose to 1.5m in May. | |
| The mixed picture comes after data on Monday implied the housing sector was at its weakest in more than 16 years. | The mixed picture comes after data on Monday implied the housing sector was at its weakest in more than 16 years. |
| More stable | More stable |
| One of the main brakes on the housing market has been higher interest rates that have boosted the cost of mortgage payments. | One of the main brakes on the housing market has been higher interest rates that have boosted the cost of mortgage payments. |
| Another factor that has dampened the market has been higher fuel prices, which have eaten into household budgets and act in very much the same way as a tax on consumers. | Another factor that has dampened the market has been higher fuel prices, which have eaten into household budgets and act in very much the same way as a tax on consumers. |
| Analysts said that the latest Commerce Department figures confirmed an overall picture that the US housing market remained sluggish. | Analysts said that the latest Commerce Department figures confirmed an overall picture that the US housing market remained sluggish. |
| Analyst Kurt Karl of Swiss Re said that the market seemed "to have bottomed out on the housing starts". | Analyst Kurt Karl of Swiss Re said that the market seemed "to have bottomed out on the housing starts". |
| Looking ahead he said the housing market looked "neutral". | Looking ahead he said the housing market looked "neutral". |