Housing Starts up 0.8% for February; Permits up 4.6%

Housing starts rose 0.8% to a seasonally adjusted annual rate of 917,000 for February, according to a Commerce Department report (link opens in PDF) released today. After dipping 7.3% from December to January, the newest numbers are a positive sign for the housing market, although they slightly missed analysts' expectations of 919,000.

Source: census.gov. 

In more positive news, building permits in February bumped up 4.6% month-to-month to a seasonally adjusted annual rate of 946,000, beating analysts' expectations.

On a regional level, housing starts in the Midwest jumped 37.5% from January to February, followed by an 18.4% increase in the Northeast. Starts in the South dropped 5.7%, while Western starts fell 7.2%. 

Compared to February 2012, housing starts are up 27.7%, and building permits have improved 33.8%.

This latest news comes one day after the National Association of Home Builders reported a drop in builder confidence for March.


The article Housing Starts up 0.8% for February; Permits up 4.6% originally appeared on Fool.com.

You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.