The Department of Commerce's U.S. Census Bureau today reported that permits to build privately-owned new housing units rose 8.7 percent in June 2009, well above the expectation for a 1.9-percent rise. Housing starts rose 3.6 percent, better than the expectation of no change for the month.
Today’s stronger numbers reflect an increasing confidence—the percent of households who recognize that this is a good time to buy a house has risen over the last year. While the economic environment remains challenging, continued Recovery Act investment into the economy should encourage growth in a range of industries including the housing sector.
Source: U.S. Department of Commerce
