New house starts to drop 13% US housing bust

According to the U.S. Department of Commerce yesterday published data showed that April housing start the season adjusted figures for the adult rate of 458,000 households, down 12.8% per month, far below market expectations.　　The figure poured cold water on the market's optimism about the US housing recovery.　　Real estate data Cold warm in addition to the April Housing start month Drop 12.8%, the Ministry of Commerce also announced that in April, 494,000 new construction permits, a monthly drop of 3.3%, after economists predicted that the index will increase 2.7% to 530,000. Compared with the above data, several recently released data is more optimistic. The National Association of Residential Builders reported 18th that the confidence index in the US real estate builders reached its highest level since September last year. The report showed that the May index of single-type housing sales rose to 16 on a seasonally adjusted period for the second consecutive month. Howard, chief executive of the National Association of Residential Builders, said the two-month rally in builders ' confidence is an encouraging sign that the housing market is nearing its bottom and that the market is stabilizing.　　He expects the U.S. housing market to hit the bottom this summer, before the fall will hover at the bottom, and then start to really rebound until normal levels. Housing sales figures have also shown signs of stability in recent weeks. Homes sales reached their lowest level since 1990 this year and maintained 4.6 million annual growth for five consecutive months. New home sales, which fell 70% from their 2005 peak, have rebounded from the historic lows set in January. According to statistics, the number of property transactions sold for foreclosure in recent months has been as high as 50% of home purchases.　　According to the U.S. Department of Commerce, the recent record contraction in the residential construction industry has helped builders reduce excess supply, and the number of unsold new homes has fallen to its lowest level since 2002 in March this year. The real estate market still faces challenges last week, the U.S. Housing and Urban Development Secretary Shondonovan said the Federal Housing Authority will soon allow borrowers to obtain short-term loans, and can use a tax credit for 8000 of dollars in payments. Record low mortgage rates, the equivalent of 1/3 of the peak, and the tax incentives for first-time homebuyers have been an incentive to clean up the glut of unsold new homes, making the US housing boom better. And the real estate industry once warmer, it is considered to be the second half of this year's full economic recovery.　　But as redemption continues, the credit environment for builders remains to be improved, and the economy's continued turnaround will take time to test. It is clear from the published quarterly report that construction companies feel the pain of having to cut prices to spur demand. D.R. The quarterly losses announced on May 5 by Horton, the largest house builder in the United States, showed that orders were down 45% from a year earlier, more than all analysts had expected. "The current market situation for the real estate industry is still challenging, characterized by the rise in redemption, new houses and existing homes have a high level of inventory,Unemployment is rising, buyers face a tight credit environment and loss of consumer confidence. Donald Horton, chairman of the company, said in a statement. Pulte Homes and Centex, which are scheduled to merge this year, recently reported quarterly losses that exceeded analysts ' expectations, with two companies having a total of $762 million trillion in land write-downs and spending in the first quarter.