April 29, 2007

Housing Woes Far From Over

Housing Woes Far From Over

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Even though home building rose in March, economists cautioned that a look inside the numbers shows the worst is far from over for the battered housing sector.

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The Census Bureau reported that housing starts rose to an annual pace of 1.52 million in March from a revised 1.51 million rate in February. The forecast was for the pace of building to slow to a 1.5 million rate in March.

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However, most of the country experienced a decrease from the February's pace of housing starts. In the South there was a 3 percent decline in home building and in the Northeast and West building fell nearly 8 percent.� In the Midwest, due to the bad weather conditions in February and then good conditions in March, house building jumped 44 percent as builders tried to catch up with delayed projects.

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Building permits, often seen as a measure of builders' confidence in the market, fell to an annual rate of 1.54 million in March from 1.53 million in February.� The consensus forecast had been for permits to slow to a 1.52 million rate.

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What is your opinion about the trends in U.S. house building? Share your opinion with us below.

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