Home builders in at least some markets concluded in March thatthere would be enough interest in new homes in the future tojustify starting to build them, the Commerce Department saidTuesday.
|In its new residential construction report for March,the Commerce Department reported that 422,000 single-family houseswere begun in March. This is a rate of 7.7% (plus or minus 15%)above the revised February figure of 392,000.
|The March rate for units in buildings with five units or morewas 117,000, Commerce added.
|“Despite continued volatility, today's numbers show welcomegrowth within the housing market,” U.S. Commerce Secretary GaryLocke said. “With 230,000 private-sector jobs added in March inindustries from manufacturing to education to construction, thereare positive signs for widespread growth throughout the economy anda stronger housing market in the coming year.”
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