Housing Starts Surge 10.8 Percent in April for Largest Monthly Increase Since August 2008

Nationwide housing starts rose 5.8 percent to a seasonally adjusted annual rate of 672,000 units in April as the deadline for an important home buyer tax incentive arrived, according to the U.S. Commerce Department.

“While some of the starts activity noted in today’s report reflected homes for which buyers had just signed a contract at the tail-end of the tax credit program, the rest was probably tied to builders replenishing their inventories in preparation for the post-tax credit er

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