Construction was begun on 0.8 percent more homes in February than in January, the Census Bureau and Department of Housing and Urban Development say. Their report is another in a series of signs in recent months that the housing sector’s rebound continues.
The number of “housing starts” was up 27.7 percent from February 2012.
Bloomberg News adds that “building permits climbed to the highest level in almost five years, adding to signs of progress in the housing market that’s helping boost the economy. … Confidence is being restored to the housing market as property values stabilize, the employment outlook brightens and mortgage rates hover around record lows.”