In stark contrast to the common consensus of a bleak out look for new home manufacturing, new home construction jumped 22.2% in the month of February with the North East leading the charge.
That is far better than expected performance for the housing industry.
Permits for new construction also rose by 3%
Does this mean we are out of the woods as far as the housing crisis is concerned?
No, we still have many foreclosed properties on the market and many existing homes that are still on the market, but it does mean that manufacturing may be starting to right itself.