By definition, news is –well–about new and sometimes unexpected things. Such is the case apparently with U.S. housing starts which surprised some experts by rising last month by an estimated 5.9%, according to a Commerce Department report.
Bob Willis,writing for Bloomberg and reported in the Detroit Free Press, says some believe “the housing slump may be nearing an end.”
Willis writes that “stepped-up construction in the Midwest and the South made up for declines in the Northeast and West.”
Before this surprise increase, housing starts in the U.S. had reached a three year low. But,for the first time in a year, Willis reports, there is an increase of home builder confidence.