Real Estate Market on the Rise

Here's your economic word of the day: Housing starts.

What is that? According to Investopedia it's beginning the foundation of the home itself. In other words, housing starts numbers are used to measure the health of the real estate market and the nation's economy as a whole.

The good news is that in January, US housing starts numbers were higher than what experts projected. Today, the US Commerce Department said housing starts rose 2.8% from the previous month, and 23.4% from the April 2009 low-point.

“Despite the mixed performance at the start of the year, the outlook for growth in housing activity remains positive,” Commerce Under Secretary Rebecca Blank said.

Rising foreclosures will continue to slow recovery, but with consumer confidence on the rise, and unemployment numbers continuing to decline, 2010 is off to much stronger start than the same time last year.

Sources:
1. US Department of Commerce
2. Investopedia
3. Bloomberg

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