Signs Of Strength In Latest Housing Data | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Signs Of Strength In Latest Housing Data

There was a 7.9 percent jump in the number of construction permits issued to home builders in May, the Census Bureau says.

That increase boosted permits to a seasonally adjusted annual rate of 780,000 — the most since September 2008, The Associated Press adds. It's a signal that construction will be strong in coming months.

And there's another sign in the Census report that the housing sector may have picked up some strength: There was a 3.2 percent rise in the number of single-family home "starts" last month. Census says construction began on 516,000 such homes (that's another "seasonally adjusted annual rate").

The increase in construction of single-family homes wasn't enough to keep all types of housing starts on the rise, however. A 24.2 percent plunge in the volatile apartments sector pulled starts down overall by 4.8 percent.

Still, as Ameriprise Financial senior economist Russell Price tells Bloomberg News, the report "was a lot better than the headline number [overall starts] would suggest."

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

TLC's '19 Kids' Pulled For Sex-Abuse Scandal

Josh Duggar of TLC's 19 Kids and Counting admitted "wrongdoing" amid media reports that he allegedly fondled underage girls as a teenager. NPR's Scott Simon speaks with TV critic Eric Deggans.
NPR

Clean Your Grill, And Other Hot Holiday Tips From Alton Brown

Whether you're barbecuing OR grilling, a meat-eater or a vegetarian, here's how to keep your flavor from going up in smoke this Memorial Day weekend.
NPR

Senate Blocks Measures To Extend NSA Data Collection

The Senate worked late into the night but was not able to figure out what to do about expiring provisions in the Patriot Act that authorize the NSA's bulk collection of Americans' phone records.
NPR

The Future Of Cardiology Will Be Shown In 3-D

The Living Heart Project aims to create a detailed simulation of the human heart that doctors and engineers can use to test experimental treatments and interventions.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.