Tuesday
Mar172009
Tuesday, March 17, 2009 at 05:42PM | Staff U.S. Housing Starts and Permits Up in February
Housing Starts and Permits Rebound
U.S. housing starts and U.S. housing permits rebounded in February 2009 from record prior lows. U.S. housing starts and U.S. housing permits rose for the first time in ten months. This gives a glimmer of hope for the recession-slammed real estate market and overall economy.
Shows Stability
The data does not mark a change in trend for the distressed housing market, but it does hint at some stability that could ease pressure on the real estate market and economy as a whole going forward.
Housing Starts Rose 22.2%
The United States Commerce Department said housing starts rose 22.2% to an annualized rate of 583,000 units in February 2009 from 477,000 units in January 2009. This is the largest percentage rise since January 1990 and the first gain since April 2008.
