Housing Permits Rise To Highest Level Since 2008
Builders seem to be getting more bullish, according to CNNMoney, applying for new home permits this May at the highest rate since September 2008. New home permits increased to an annual rate of 780,000. This news mirrors a recent survey by the National Association of Home Builders that showed an increase in builder confidence, the highest level since 2007.
Housing starts actually dropped this month to 4.8%, however this number is still 28.5% higher in comparison to this time last year.
Do you think this a good sign about the direction of the housing market?