US housing starts dipping 11.2% from September 2016 By Investing.com

Investing.com – The housing construction sector in the United States was hot in December, as interest rates rose and uncertainty about the economic outlook led to a sharp drop in investment. ;investment.

fell 11.2% to reach a seasonally adjusted annual rate of 1.078 million units at the end of the year, announced the Commerce Department. It was much worse than expected, with a 0.5% drop to 1.250 million euros and the lowest figure since September 2016.

Data was delayed due to the government shutdown in late 2018 and until January.

Prices edged up 0.3% to 1.326 million units in December, while forecasts predicted a decline of 2.8% to 1.29 million.

The housing market has stabilized after a long expansion that began in 2010.

The US Federal Reserve has increased its borrowing costs in recent years and companies have been slow to react to shortages in some market segments, particularly in the bottom of it.

In the United States, sales of existing homes hit their lowest level in three years in January, according to data released Friday.