US stock futures are up in trading today (September 19th) after the release of positive construction data from the American commerce department.
The building of new homes and apartments rose 2.3 per cent in August to a seasonally-adjusted annual rate of 750,000.
This was thanks in part to a hike in single-family projects, which were found to be up by 5.5 per cent – a more than two-year high – to an annual rate of 535,000 homes.
With the release of the positive data, the Dow Jones, S&P 500 and Nasdaq futures were all up by 0.17 per cent as of 14:45 BST.
Douglas Yearley, chief executive officer of Toll Brothers – the largest luxury-home builder in the US – told Bloomberg: "The housing recovery is being driven by pent-up demand, very low interest rates and attractively priced homes."
He added their current situation means that some companies are now enjoying pricing power.
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