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U.S. housing construction at 3-year high

Posted on 21 March 2012

Permits for U.S. homebuilding neared a three-year high in February, even as groundbreaking activity slipped, suggesting a nascent recovery in the housing market was still on track.
New building permits surged 5.1 per cent to a seasonally adjusted annual rate of 717,000 units last month, the Commerce Department said on Tuesday. It was the highest rate since October 2008 and far exceeded economists’ expectations for an advance to a 690,000-unit pace from January’s 682,000-unit rate………………………………………..Full Article: Source


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