Tuesday, March 20, 2012

Reuters: Top News: Housing starts dip; permits near 3-1/2 year high

Reuters: Top News
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Housing starts dip; permits near 3-1/2 year high
Mar 20th 2012, 12:36

Workers build a new house in Alexandria, Virginia February 16, 2012. The U.S. Commerce Department said housing starts rose 1.5 percent to an annual rate of 699,000 units last month, beating economists' expectations for a 675,000-unit pace. Starts were boosted by multi-unit buildings, reflecting growing demand for rental apartments as Americans move away from homeownership. Permits for future home construction rose 0.7 percent to a 676,000-unit pace in January.

Credit: Reuters/Kevin Lamarque

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