Building permits, housing starts rise in March

Building permits for new housing units rose 7.5 percent in March and housing starts increased 1.6 percent, according to the U.S. Census Bureau and the U.S. Dept. of Housing and Urban Development (HUD). Building permits and housing starts now are 37.6 percent and 30.7 percent, respectively, above their low points in April 2009, according to the report. See the press release below:

WASHINGTON — The Commerce Department’s U.S. Census Bureau today released new residential construction data for March 2010. Permits for new housing units jumped 7.5 percent in March, housing starts increased 1.6 percent in March and starts in February were revised up considerably. Permits have advanced 37.6 percent and starts have risen 30.7 percent above their low points in April 2009. “The good news is that housing permits and starts came in above expectations and are up substantially from their lows last year,” Commerce Secretary Gary Locke said. “But housing data can be volatile. The outlook is positive, but President Obama understands there is much work left to ensure continued economic growth and to put Americans back to work.”

Deborah Bremner
The Bremner Group at Coldwell Banker
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