This is one of those bits of news that may not grab as much attention as home prices rising or historically low interest rates, but it should. New housing starts rose 6.9% in June according to the Census Bureau, and are up a healthy 23.6% from one year ago. Housing starts are one of the most important indicators of where the economy stands and have been lagging until recently.
It appears that the huge influx of buyers into the market along with a very low inventory finally has developers seeing dollar signs. One more reason to be cautiously optimistic about the real estate market and the economy in general. Baby steps!