The Real Deal Miami

Economists project housing starts have hit nine-month high

September 17, 2009 08:02AM

New housing starts in the U.S. have likely reached a nine-month high, according to a Bloomberg news survey of 74 top economists. The survey showed that housing starts rose about 2.9 percent in August, according to economists’ projections, an improvement many attribute to the lower prices and federal stimulus efforts. This news comes as Standard & Poor’s Supercomposite Index of 15 builders jumped 119 percent through yesterday. Michelle Meyer, an economist with Barclays Capital, said she feels confident that an industry rebound is imminent. “The housing recovery is under way,” Meyer said. “We expect residential investment to add to growth in the third quarter.”