Housing starts rise in February

Housing starts rose 0.8 percent from January to February, according to USA Today. Construction increased to a seasonally adjusted annual rate of 917,000 compared with 910,000 in January.

Additionally, single-family construction starts rose 0.5 percent. And building permit applications, which are viewed as a barometer of future construction, rose 4.6 percent in February to 946,000, which is the most since July 2008.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. Housing starts also were 27.7 percent higher in February than in February 2012. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 3/27/2013