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Permits, builder sentiment indicate turning point for the market

from Houston Agent Magazine

Permits, builder sentiment indicate turning point for the market Houston Agent Magazine Single-family permits increased almost 12% in May, according to a report released Wednesday by the U.S. Housing and Urban Development and Commerce Department. Overall building permits increased 14.4% to 1.22 million in May, while multifamily permits increased 18.8% to 475,000 units. While single-family housing starts, which refer to the actual initiation of construction, were flat in May after falling in April, the increase in the pace of permits is a forward-pointing indicator that signals positivity for the market overall. READ MORE

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