|
New Home Constructions Nov 09 |
|
November 2009 New Housing Constructions- Construction of new homes, helped by better weather, rebounded in November following a setback in the previous month. The
gain is a hopeful sign that the housing recovery is continuing, a
development viewed as critical to lifting the overall economy out of
recession.
The Commerce Department says construction of new homes
and apartments rose 8.9 percent in November to a seasonally adjusted
annual rate of 574,000 units. The gain represented strength in all
areas of the country although the increase was slightly lower than
economists had expected.
Applications for new building permits
were also up, rising 6 percent to an annual rate of 584,000 units, a
stronger showing than economists predicted.
|
