Housing Construction Increased in February, Indicating Economy Gaining Momentum

Housing starts as well as permits for future construction projects were up in February, leading many experts to believe the economy is heading in a positive direction.

According to the U.S. Commerce Department, housing starts rose 0.8% in February while permits for future construction projects increased 4.6%, the fastest rise since June 2008.

Experts say this is yet another indicator that the economy may in fact have built momentum in the first quarter of 2013. 

Construction jobs also rose in February to a total of 48,000, the highest since before the recession. 

The increase in housing has in part been helped by the steady improvement in employment in the U.S., while the amount of homes available on the market has increased prices for homebuyers. Experts say these two factors will continue to drive new home construction throughout 2013.

Read the full article to learn more.