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Statement from Secretary Gary Locke on New Residential Construction in December 2009

Submitted on January 20, 2010 - 11:21am
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FOR IMMEDIATE RELEASE

Wednesday, January 20, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Secretary Gary Locke on New Residential Construction in December 2009

The Commerce Department’s U.S. Bureau of the Census today released data on new residential construction in December 2009. Permits jumped 10.9 percent in December, but starts decreased 4.0 percent. Permits have risen 31.1 percent and starts have advanced 16.3 percent from record lows in April.

“Despite the mixed performance at year-end, conditions remain favorable for growth in the coming months,” Commerce Secretary Gary Locke said. “Mortgage rates remain relatively low and the expanded homebuyers’ tax credit provides buyers with attractive opportunities in the coming months.”