U.S Housing Starts Increase to 717k, Building Permits lower at 715k - 16.5.2012

U.S Housing Construction rise to 717,000 in April, from March revised number of 699,000 and higher than anticipated as the Commerce Department reported today. The Housing Starts data are trending upwards the last years and the todays reported figure is the highest since December 2008. The private Building Permits figure however dropped to 715,000 from the previously revised figure at 769,000, it was lower than the anticipated 730,000. Three years after the recession ended the housing market in U.S is improving further helped by the increase in employment, cheaper homes and low mortgage rates.