HERE COMES HOUSING STARTS...
Jul 17, 2014, 17:47 IST
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Economists estimate starts increased by 2.4% in June with building permits jumping 3.1%.
"Building permits have trended higher and are running above the pace of starts," noted BofA Merrill Lynch economists."Moreover, homebuilder sentiment, as measured by the NAHB housing index, picked up over the month. New home sales also surged in May, which should incentivize greater building. After a rough start to the year, we think housing conditions have improved."