In April 2015, the number of buildings that began to be constructed in the United States jumped 20.2% from the previous month and amounted to 1135000 compared to April 2014. The current figure is a record since November 2007, according to the US Ministry of Commerce.
In March, the number of new buildings has increased in comparison with February by 4.9% and amounted to 944 thousand, while the previously report showed an increased rate with 2%, to 926 thousand.
Analysts surveyed by Bloomberg, predicted a growth rate of 9.6% from the previously announced level - to 1015 thousand.
The monthly increase in the number of new buildings was the highest since February 1991.
The improvement of the conditions of labor market and record low mortgage costs have contributed to the restoration of the active pace of housing construction, confirming the view of analysts that the weak data on the real estate market at the beginning of the year was mainly due to the harsh weather. Many construction firms have already noted the successful house sales at the start of the spring season.
"Finally, the construction sector went into a normal rhythm - said the senior analyst at Moody's Ryan Sweet."Unemployment in the country is reduced, wages are rising a little more active, and the cost of borrowing is close to historic lows, so it promises and shows us a significant improvement in the second half of the year".
The number of permits to build new homes in the US in April rose 10.1% compared with the previous month, to 1143 thousand in terms of the annual rate. Experts expect the growth to 2.1% from the previously announced January level, to 1064 thousand.
According to the revised data, in March, the number of permits was 1038 000 and not 1039 000, as previously reported.
The construction of single-family houses jumped in April to 16.7% compared to the previous month, getting to 733 thousand in terms of annual growth, which is the highest level since January 2008. The figures, showing the construction of new apartment buildings, are more volatile, jumping by 27.2% - up to 402 thousand.