U.S. housing recovery stimulating demand for ceramic tiles.(8/7/2013)

Recently, the American Association of tiles (TCNA) announced that the latest report shows that the first quarter of 2013, the U.S. housing market has maintained a good momentum of development. March, the United States reached 005,000 new housing units, an increase of 42.1%; new housing sales reached 451,000 units, an increase of 29.2%; number of houses have been built up to 4,330,000 units, an increase of 9.3 percent last year.

Federal Home Loan Mortgage Corporation believes that the U.S. real estate mortgage rates have dropped to its lowest level for 65 years. 2013, fixed mortgage rates remain at historic lows. As of March 2013, the United States has maintained a 30-year fixed mortgage interest rates unchanged fell 3.57 percent; comparison in December 2012 despite the slight increase of 3.35%, but the rate is still historically low. Although the article is reproduced in China Ceramics net interest rates may be increased in the end of this year, but the long-term fixed mortgage rates are expected to remain below 4%. This means that, for those who have a good credit history, steady income and adequate savings potential buyers, buyers affordability remains high.

In addition, in March 2013, the U.S. unemployment rate fell to 7.6 percent, the most since December 2008 the lowest point since. Stimulate employment and income increased family formation, in 2013 the number of households throughout the year is expected to be a net increase of 120-125 million. This growth will help to promote housing construction.

According to the U.S. Census Bureau released the latest data, as of March 2013, housing, public buildings and other non-residential construction and other renovation costs reach $ 869 billion, an increase of 6.3%. Echoing this is the first quarter of 2013 the U.S. tile consumption increased by 8.4%.
(Author Mosaic and Tile, China Leiyuan 8/7/2013)

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