FOR IMMEDIATE RELEASE
Wednesday, January 20, 2010
CONTACT OFFICE OF PUBLIC AFFAIRS
Statement from Secretary Gary Locke on New Residential Construction in December 2009
The Commerce Department’s U.S. Bureau of the Census today released data on new residential construction in December 2009. Permits jumped 10.9 percent in December, but starts decreased 4.0 percent. Permits have risen 31.1 percent and starts have advanced 16.3 percent from record lows in April.
“Despite the mixed performance at year-end, conditions remain favorable for growth in the coming months,” Commerce Secretary Gary Locke said. “Mortgage rates remain relatively low and the expanded homebuyers’ tax credit provides buyers with attractive opportunities in the coming months.”