The US Commerce Department said today that the number housing starts for December increased 2.8 percent from the previous month to an annualized rate of 591,000. The continuation of a home-buyer tax credit is being credited with helping to boost demand for new homes.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re in a slow and steady progress phase of the housing recovery,Ã¢â‚¬Â said Aaron Smith, a senior economist at MoodyÃ¢â‚¬â„¢s Economy.com in West Chester, Pennsylvania, who forecast new-home construction would increase to a 590,000 pace. Ã¢â‚¬Å“The trend will be upward, but itÃ¢â‚¬â„¢s going to be a bumpy path higher.Ã¢â‚¬Â
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