The Smart Team of NOVA® Home Loans

Construction Data, While Ragged, Still Trends Higher

Posted To: MND NewsWire

Once again, the pace of both residential construction permits and housing starts reversed direction, repeating, in March, the up and down pattern that has persisted for months. The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced significant and opposing changes in the two measures and delivered surprises to housing analysts. This time it was housing permits that posted gains. They were issued in March at a seasonally adjusted annual rate that was 3.6 percent higher than the previous month, at 1,260,000 units. This was 17.0 percent above the annual rate of 1,077,000 units, a year earlier. The February estimate was revised up from 1,213,000 units to 1,216,000. The March permit number was at the top of the range of estimates provided by Econoday, 1,230…(read more)

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Source: Mortgage News Daily

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