Housing Starts up 7.2%; Construction Permits Still Low, But Rising

Total housing starts gained 7.2% last month, over a March number that had already been revised upward. The gains were led by a 32.3% jump in the Midwest; all regions showed gains except the South, which experienced a slight decrease of 3.3%. These increases helped to regain ground that was lost in February, when housing starts plummeted.

While construction permits are still low - down 13.3% year-over-year - permits increased over February 5.7%. Permits are not expected to increase until housing sales show sustained increases. Existing home sales statistics will be released tomorrow from the National Association of Realtors.



4.19.11 (Source: U.S. Census Bureau)