Housing reports the world over have been underlining a rising trend of stability and growth in the housing market. US data over the past two weeks highlighted a solid uptick in housing investment and construction activity. Canada’s housing market also reported heavy increases and rising prices throughout July. Britain added another piece to the story this morning.
The Nationwide HPI report out of Britain early this morning revealed a surprise growth reading of 0.2%. Expectations were for a decline in the house price index of 0.1%. These reports seem to portray a picture of solid recovery in the housing and mortgage markets globally. Japan’s housing starts report also revealed growth this morning, underscoring the trend as global as opposed to European or American.
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