Housing permits surged 5.1% in February

03/20/2012 | Reuters

Housing permits jumped 5.1%, to 717,000 units, in February, the Commerce Department reported. It was the highest rate since October 2008. "The data provide further evidence of a rebound in housing activity," said Eric Green, chief economist at TD Securities. "Housing is being nursed back to health, but getting out of rehab takes time." Housing starts slipped 1.1% in February.

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