New Home Constructions On The Rise

Following very solid November numbers, new home constructions were down just a bit in December, but still better than the year-over-year numbers. The Census Bureau reported that construction of new homes fell to 657,000 on an annual basis, which is down 4.1% compared to the strong November rates. But compared to the 2010 numbers, housing starts are up 24.9% and building permits are up 7.8%. David Crowe, chief economist for the National Association of Home Builders commented in the CNNMoney article that overall, it is a “decent report.” To read more on these statistics in the CNNMoney article, click here.