Housing starts are dropping for a fourth straight month, while a rise in foreclosures and a drop in new home sales in January suggest that the U.H.S.-China trade war could help to lower the pace of new home starts for a third straight month.
The monthly U.K. report shows that sales dropped for a sixth straight month in January and that new home construction declined in February.
February was also the month that home-price growth was strongest, the report said.
March was the month when new home-building was strongest.
A Reuters poll showed that the number of new homes completed rose for a fifth straight month at a pace of 0.6 percent.
The number of foreclosing households fell by 0.3 percent in February, while the number that had their mortgage applications turned down dropped by 0 and the number who had their loan approvals turned down by less than one percentage point each fell by 1.3 and 2.3 percentage points respectively.
On Monday, a U.N. official said that the war in Syria could help push the pace for new home start data to be revised upward.
The latest Reuters/Ipsos survey of economists found that U.W. economists saw a 6.2 percent chance of a new-house-building boost in March.
On Friday, the Commerce Department said that new-building in the U,S.
was up 0.5 percent in the first three months of the year, the biggest annual gain in more than a year.
The pace of home sales is down for the fourth straight year and is below where it was in 2006.
Despite the slow growth in new-mansion construction, some economists see a boost in new housing starts in the coming months.
New-home-building, however, will have to pick up the pace in coming months if the trade war is to be avoided, said Mark Zandi, chief economist at Moody’s Analytics.
U.S./China trade dispute could lift the pace, said Zandi.
“We are watching the trade dispute as a potential catalyst for a higher-than-expected pace of activity,” he said.
A slowdown in homebuilding in China and lower-than expected new-housing starts could lead to a drop-off in the overall pace of U.A.E. growth, which has been steady in recent years, economists said.
Housing starts are down in the United States for a seventh straight month and home prices are also down for a first time since December 2014.
This is the second consecutive month that U-Haul shipments have slowed or fallen, according to the U-Pick company.