Commerce Dept.: Housing starts rise in March
It’s
good news, said National Association of Home Builders Chairman Bob Jones.
U.S. housing starts rose in March to a seasonally adjusted 626,000 units, the Commerce Department reported April 16.
Housing construction permits also increased 7.5 percent for the month, reaching a seasonally adjusted 685,000 units.
It’s good news, said National Association of Home Builders Chairman Bob Jones.
"After an uncertain couple of months, home builders are gradually getting back to what they do best as the spring home buying season commences and consumers return to the market," Jones said. "While we still have a long way to go, today's numbers are an indication that builders are looking down the road with a bit more optimism."
Jones is a builder from West Bloomfield, Mich.
David Crowe, the association’s chief economist, was also encouraged by the report.
"Today's report is very encouraging, because it signifies that home builders are confident enough to begin work on homes that will very likely be completed after the expiration of the home buyer tax credits," Crowe said. "The solid gain in permit issuance last month is particularly welcome news, since those numbers are generally a reliable indicator of future building activity. That said, considerable headwinds continue to impede housing's recovery, including the critical shortage of credit for housing production that is stifling new development in reviving markets."
U.S. housing starts rose in March to a seasonally adjusted 626,000 units, the Commerce Department reported April 16.
Housing construction permits also increased 7.5 percent for the month, reaching a seasonally adjusted 685,000 units.
It’s good news, said National Association of Home Builders Chairman Bob Jones.
"After an uncertain couple of months, home builders are gradually getting back to what they do best as the spring home buying season commences and consumers return to the market," Jones said. "While we still have a long way to go, today's numbers are an indication that builders are looking down the road with a bit more optimism."
Jones is a builder from West Bloomfield, Mich.
David Crowe, the association’s chief economist, was also encouraged by the report.
"Today's report is very encouraging, because it signifies that home builders are confident enough to begin work on homes that will very likely be completed after the expiration of the home buyer tax credits," Crowe said. "The solid gain in permit issuance last month is particularly welcome news, since those numbers are generally a reliable indicator of future building activity. That said, considerable headwinds continue to impede housing's recovery, including the critical shortage of credit for housing production that is stifling new development in reviving markets."
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