Housing Starts, Permits Climb

Submitted by Ronald Tennant with Metrocities Mortgage:

Investor's Business Daily (05/19/08) P. A1
The Commerce Department reports an 8.2-percent rise in housing starts to an annual rate of 1.032 million in April. Experts had anticipated a decline from the prior month, but apartment construction resulted in a gain even as single-family starts fell to their lowest point in 17 years. The report also shows a jump in overall building permits of 4.9 percent, with single-family permits also up.