America’s Commerce Department announced that homebuilding permits (future construction) increased 3.6 percent in November 2012 and reached a total of 899,000 units. Since the economy turmoil started in the late 2007, the latest number of permits reached the highest level since July 2008.
Citing data from the Commerce Department, reuters.com reported that the early expectation by economists for November’s total permits were only 875,000 units. The differences were 24,000 units (about 2.7%).
Financial experts are very encouraged with the latest number in housing market as it will make some contribution to the growth of America economy in 2012. Experts are projecting that the housing market will continue to expand through 2013.