The number of new housing projects in America increased last month by 7% annually

Economic data published on Wednesday showed an increase in the number of new housing projects launched last month in the United States.
The US Department of Commerce reported that the number of housing projects started last month increased by 7% to the equivalent of 358.1 million units per year, after declining by 5.12% to the equivalent of 269.1 million units per year during the previous month, according to the revised data.
Analysts had expected the number of projects to rise to 380.1 million units per year last September compared to 283.1 million units per year last August, according to preliminary data.
Jeffrey Roche, chief economic analyst at IHS Global Insight, said: “this is a very difficult time.P.”Despite the increase in the number of new projects last September, the number of houses under construction is still too low for newcomers to the market in search of a new home,”lfinancial said.
At the same time, the number of applications for building permits, which indicates future construction activity, decreased by 4.4% to 475.1 million units per year last September, after rising by 8.6% per year to 541.1 million units per year last August.
Analysts had expected the number of licenses to decline to the equivalent of 450.1 million units per year, compared to 543.1 million units in the previous month according to preliminary data.