It seems that after several months of new home starts being down (almost 9 months of progressive slowdown) that new starts took a jump in February as the new building season kicks off. Home builder confidence rose to its highest level since June of last year, according to a Reuters report picked up by CNN Money.
I’d say that’s a good thing, as there have been several stories lately about the plunging stock of two of the biggest homebuilders in the country (Toll Brothers and KB Homes). Of course they’ve both ridden out the storm (that’s what big companies do), but this down-turn in the housing market definitely got their attention.
That is positive economic news, not just positive real estate news.