Housing starts and permits are on the rise as the home builders market is showing signs of improvement. With the current tax credit coming to an end, the real estate market definitely on the upswing.
NAHB Chairman said, "The upcoming expiration of the first-time home buyer tax credit on December 1st is encouraging some builders to get homes started now so that they can be completed in time for clients to take advantage of this attractive buying incentive. However, there is still much concern about the difficulty of financing new-home production and continuing weakness in the job market."
There was more than a 3 1/2 percent increase in housing starts, with a seasonally adjusted annual rate of more than 580,000 units. Permit issuance increased almost 9 percent to over 560,000 units.
