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Mixed News for Housing

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NewConstruction_EPASmartGrowth_FlickrThe 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.

[Resource: Misconceptions May Keep Homeowners From Getting Low-rate Refi’s]

Image: EPA Smart Growth, via Flickr.com

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