FOR IMMEDIATE RELEASE
Tuesday, April 19, 2011
CONTACT OFFICE OF PUBLIC AFFAIRS
The Commerce Department’s U.S. Census Bureau today released data on new residential construction in March 2011. Permits for new housing units increased 11.2 percent, significantly exceeding private-sector expectations of a 3.0-percent rise. Housing starts increased 7.2 percent, compared with private-sector expectations of a 10.0-percent rise.
“Despite continued volatility, today’s numbers show welcome growth within the housing market,” U.S. Commerce Secretary Gary Locke said. “With 230,000 private-sector jobs added in March in industries from manufacturing to education to construction, there are positive signs for widespread growth throughout the economy and a stronger housing market in the coming year.” Report (PDF)