US: New housing starts jump


http://www.bloomberg.com/news/2011-07-19/housing-starts-in-u-s-jump-14-6-to-629-000-annual-rate-permits-increase.html

Work began at an annual pace of 629,000 units, up 15% from May. The Commerce Department pro-rates numbers every month to project an annual figure. Wall Street reacted favorably to the data.

Home construction totaled 554,000 units in 2009, the lowest since record-keeping began in 1959. There were 587,000 starts in 2010, a 6% increase over the previous year. Starts reached a peak of 2.07 million in 2005.

New Jersey’s initial step in a potential strong recovery resides in the housing sector.

 

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