The latest housing news from the Commerce Department is decidedly mixed. The number of new housing starts jumped 14.6% in January, according to the latest report. That puts builders on pace to begin construction on 596,000 new homes in 2011.
But the jump may be short-lived. The number of permit requests to build new houses in the future dropped 10% last month, to an annual rate of 562,000.
“As we continue to see from today’s report, month-to-month housing market data can be volatile, and the industry continues to suffer from the affects of the recession,” Commerce Secretary Gary Locke said in a press release.
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