While sales of existing homes dipped in March because of a tighter inventory, sales of newly built homes rose 1.5 percent from February and were up a whopping 18.5 percent from March 2012, the Census Bureau and Department of Housing and Urban Development say.
Originally published on Tue April 16, 2013 10:52 am
There was a 7 percent surge in housing starts last month, the Census Bureau and Department of Housing and Urban Development report.
As The Associated Press notes, the pace of construction — 1.04 million starts, at an annual rate — is the fastest in nearly five years and is another sign that the housing sector continues to recover from its 2007-08 crash.
Last week, several media outlets and advocacy groups began circulating the same sad story: Because of sequestration, 60 low-income families in Dane County, Wis., were soon to be homeless.
But the truth is more complicated.
The story began with a blog post written in February by Dane County Housing Authority Executive Director Rob Dicke.
Construction was begun on 0.8 percent more homes in February than in January, the Census Bureau and Department of Housing and Urban Development say. Their report is another in a series of signs in recent months that the housing sector's rebound continues.
The number of "housing starts" was up 27.7 percent from February 2012.
Today's economic indicators all point up: