Latest Numbers Show Momentum in Housing Market
The Wall Street Journal recently reported that home building in U.S. in April was at the highest level since before the recession officially began. According to the Department of Commerce, U.S. housing starts rose 20.2% from a month earlier, bringing the seasonally adjusted annual rate in April to 1.135 million. That marks the highest reading since November 2007, and the biggest percentage increase since February 1991. New applications for building permits, increased 10.1%.
As everyone in our industry knows, home-construction figures are often revised. While the past several months have seen mixed reports related to housing data, the WSJ article reports that several economists believe the housing market is rebounding after a dismal first quarter.
image credit - WSJ U.S. Housing Market Tracker