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Thursday, May 17, 2012

Numbers Suggest Housing Market is Recovering

U.S. builders started work on more homes and apartments last month and requested more permits to build single-family homes. The increases suggest the battered housing market is healing.

The Commerce Department said Wednesday that builders broke ground in April at a seasonally adjusted annual pace of 717,000 homes. That’s a 2.6 percent increase from an upwardly revised March figure and near January’s three-year high of 720,000. Construction rose for both single-family homes and apartments.

Building permits, a gauge of future construction, fell last month from a 3½-year high to a seasonally adjusted annual rate of 715,000. But that was because of a 23 percent drop in the volatile apartment category. Permits for single-family homes rose almost 2 percent.

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4 comments:

Anonymous said...

Don't believe it this is just Realtor trickery.

Anonymous said...

If it was from the Realtors, I would call it Realtor trickery.

But this is from the commerce department. That makes it propaganda!

Anonymous said...

Can't speak for the rest of the country but as an appraiser, I can tell you it's not happening here.

Anonymous said...

Crap, by november, everything will have recovered...just in time.