US housing market improves(視頻)

中國日報網 2012-08-24 10:44

There's good news for the US housing market. Newly released figures show a modest uptick in the sales of new and used homes in July. Average home prices also are rising. But a number of obstacles remain for the struggling housing market.

Housing has been a major drag on the economy for the last five years, but a new government report suggests a modest recovery may be under way. Sales of new homes rose 3.6 percent in July. And a separate report by the National Association of Realtors says demand for previously owned homes is up.

Even luxury builders have benefited. Toll Brothers, best known for its so-called larger homes called "McMansions," has posted its best quarter in four years.

"We are blessed with increased demand. The pent-up demand from the customers who have been on the sidelines for the last four to five, six years -- has started to release," said Martin Connor, the company's chief financial officer.

Smaller inventories have also led to higher home prices - up an average of 9 percent from a year ago.

Connor says that's helped boost builder confidence. Last month applications for building permits hit a four-year high.

"So while we've had some fits and starts since the downturn, we believe based on the strength and depth of this selling season that the market is back," Connor said.

But even with recent gains, analysts say overall home prices are still below levels needed to sustain a healthy recovery. Weak job growth in the US has not helped. And despite record low interest rates, tighter lending standards continue to constrain buyers.

Ken Simonson is chief economist for one of the largest construction trade groups in the US.

"Certainly credit is still a big issue for developers, for people who want to take out a home mortgage. Those things are retarding the ability to order up new construction," Simonson said.

Despite the difficulties, confidence in a full recovery is growing. Economists are forecasting new home construction will add two tenths of one percent to overall US growth this year. That would mark the first year of positive growth for the US housing market since 2005.

German housewife hailed as Euro solution(視頻)

'Slum Film Festival' showcases urban stories(視頻)

Finding the right match with online dating

（來源：VOA 編輯：Julie）

上一篇 : Party conventions formalize nomination of presidential candidates(視頻)
下一篇 : Hitler's Olympic Village faces conservation battle(視頻)

中國日報網英語點津版權說明：凡注明來源為“中國日報網英語點津：XXX（署名）”的原創作品，除與中國日報網簽署英語點津內容授權協議的網站外，其他任何網站或單位未經允許不得非法盜鏈、轉載和使用，違者必究。如需使用，請與010-84883561聯系；凡本網注明“來源：XXX（非英語點津）”的作品，均轉載自其它媒體，目的在于傳播更多信息，其他媒體如需轉載，請與稿件來源方聯系，如產生任何問題與本網無關；本網所發布的歌曲、電影片段，版權歸原作者所有，僅供學習與研究，如果侵權，請提供版權證明，以便盡快刪除。