Good news for resi security

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07/20/2009
It may not be time for you resi dealers to pop the champagne, but at least some of the numbers are moving in the right direction. From WSJ's Marketwatch last week, here's some news about housing starts:
WASHINGTON (MarketWatch) - New construction of U.S. houses expanded for the second straight month in June after hitting a record low in April, the Commerce Department estimated Friday. Starts rose 3.6% in June to a seasonally adjusted 582,000 annualized units stronger than the 531,000 pace expected by economists surveyed by MarketWatch. This is the highest level of starts since last November. Starts of new single-family homes rose by 14.4% to 470,000 in June, while starts of large apartment units fell 29.4% to 101,000. Building permits, a leading indicator of housing construction, rose 8.7% to a seasonally adjusted annual rate of 563,000. This is the highest level of permits since December.