Tuesday, April 19, 2011

New Home Construction "up" in March

April 19, 2011….

New home construction jumped 7.2% to 549,000 in March -- the highest rate in six months -- easily beating economists' expectations. Permits to begin building homes were up 11.2% to 594,000 for the month. The market for new homes was hit hard by the economic downturn as a glut of supply of already-existing homes for sale severely weakened demand for new homes being built.

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