News
Home Construction Grows at Fastest Clip in 7 Years
The government reported a 20.2% gain last month in residential housing starts, a surprise rebound that offers hope for an economic turnaround and has already lifted the fortunes of retailers like Home Depot. The growth to a seasonally adjusted annual pace of 1.14M construction starts was the fastest in seven years. And it skyrocketed by 86% in the Northeast, where construction had ground to a standstill during a hellacious winter. Furthermore, the rate of building permit approvals ticked up a substantial 10% between March and April. [AP]
