One of the reasons behind that confidence is that housing starts in the United States were up 6.9 per cent in June—the highest increase since October 2008.
According to statistics from the Commerce Department, single-family starts were at a two-year high. Apartment starts that fell in May were up again in June.
Home building permits fell 3.7 per cent from May’s three-and-a-half-year high to reach 755,000.
New house sales in the US increased in May.