Construction permits up nationwide: report

Permits for new multi-family housing units were at 569,000 in August, a 1.8 percent month-over-month increase, but a 6.7 percent decrease from June 2009. Privately-owned housing starts saw a 10.5 percent month-over-month increase in August, to its highest level since April, well above expectations, according to a report released today by the U.S. Department of Commerce. Single-family housing starts in August increased 4.3 percent from July. “We’re headed in the right direction, but we know that the housing market is tied directly to jobs and incomes,” said Gary Locke, commerce secretary. “That’s why this administration will continue to pursue policies, such as the new business investment tax break, that will spur growth and help put more Americans back to work.” TRD