Aug 5, 2012

The root cause of global economic crisis, the USA Housing markets shows signs of recovery

Some economic data released in March this year showed a noticeable recovery in USA housing markets, which had been the root cause that spelled  googley in the world economic and financial markets.
The National Association of Home Builders' Index of builder confidence rose for a fifth consecutive month in February, to its highest level since May 2007.
Sales of previously owned homes rose 4.3% from December to January this year.
The number of homes for sale dropped 21% in the year to January, to just over six months of supply, which is 'normal' according to the industry standards.
Housing rents posted 2.4% increase.
The number of new building permits jumped 19% in the year to January.
Approvals for building with five or more units, which are favoured by renters soared by 61%.