Wed, 21 Mar 2012 07:10:21 GMT
Building permits rose more than expected in February
Housing start ups settled close to 3-year record high in February indicating that sector is stabilizing, Commercial Department said on Tuesday. The number of new home start ups was at annual 698 000 matching analyst expectations. Meanwhile building permits unexpectedly surged to annual 717 000, the highest reading since October 2008. Economists earlier predicted an increase to annual 686 000.