The Real Deal Miami

Housing construction jumps in February

March 17, 2009 02:45PM

Housing construction nationwide increased in February, contrary to predictions. Construction of new homes and apartments jumped 22.2 percent in February from January, the Commerce Department reported today. The new home construction rate at the end of February was 583,000 units. Construction activity remains 47.3 percent lower than it was a year ago, but Wall Street still posted gains on today’s news.