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US Housing Prices, And Confidence, Rise
Five years after the collapse1 of the U.S. housing market, Americans seem ready to buy again. Pending2 home sales are up 7 percent over last year, foreclosures are at a seven-year low - and the number of homes for sale, continues to decline.
"Housing sales numbers are continuing to trend up. In fact, if anything, realtors are saying they are looking at shortages of inventories3 of homes for sale," said Sam Coffin4, an economist5 at UBS Securities.
The lower inventories are pushing home prices higher. And that's giving builders a much needed boost, says Ken6 Simonson at Associated General Contractors7 of America.
"When you look at the broader construction industry, there's quite a boom going on in apartment construction, more recently, in single family homes and some of the private non-residential categories," Simonoson said.
The renewed optimism and rising stock prices may be aiding in an otherwise slow U.S. recovery. It may also explain why consumer confidence improved sharply in April, says fund manager Brad Friedlander.
"Borrowers and personal consumer balance sheets are a lot better than they were a few years ago. So we are seeing, beginning to see a rebound," Friedlander said.
Despite a much improved housing picture, economists8 say for now, it's unlikely to have a measurable impact on U.S. unemployment. New jobs data to be released Friday is expected to show unemployment unchanged - at 7.6 percent.
1 collapse | |
vi.累倒;昏倒;倒塌;塌陷 | |
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2 pending | |
prep.直到,等待…期间;adj.待定的;迫近的 | |
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3 inventories | |
n.总结( inventory的名词复数 );细账;存货清单(或财产目录)的编制 | |
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4 coffin | |
n.棺材,灵柩 | |
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5 economist | |
n.经济学家,经济专家,节俭的人 | |
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6 ken | |
n.视野,知识领域 | |
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7 contractors | |
n.(建筑、监造中的)承包人( contractor的名词复数 ) | |
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8 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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