New homes builds in US rise for a third monthWorkers toil on a multifamily dwelling Tuesday, August 4, in Winter Park, Colorado. Construction of new U.S. homes surged by 22.6 percent last month as homebuilders bounced back from a lull induced by the coronavirus pandemic. Housing starts have now risen three straight months after plunging in March and April as the virus outbreak paralyzed the American economy. housing starts blew the roof off of expectations in July ... .... these are the kind of gains seen after storms/hurricanes,” Jennifer Lee, senior economist at BMO Capital Markets, wrote in a research note. The National Association of Home Builders reported Monday that builders’ confidence this month matched the record high first reached in December 1998.

Source: The Standard August 18, 2020 13:30 UTC