New Housing Permits Hit Highest Mark in Six Years
The U.S. Department of Commerce announced today that all four regions of the United States experienced a rise in housing starts in April that resulted in a 13.2 percent increase year over year. In addition, the department also reported that building permits hit their highest level in nearly six years, rising to 980,000 units (a 26.4 percent increase year over year). Together, both offer optimism that the U.S. housing market could be stabilizing. For investors, that means keeping an eye on homebuilders like DR Horton (DHI), Lennar Corp (LEN), Toll Brothers Inc. (TOL) and Pulte Homes (PHM).