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Statement from Commerce Under Secretary Rebecca Blank on New Residential Construction in January 2010

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FOR IMMEDIATE RELEASE

Wednesday, February 17, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Commerce Under Secretary Rebecca Blank on New Residential Construction in January 2010

The Commerce Department’s U.S. Census Bureau today released data on new residential construction in January 2010. Housing starts rose 2.8 percent in January and permits decreased 4.9 percent. Starts have advanced 23.4 percent and permits have risen 24.7 percent above their April 2009 low point.

“Despite the mixed performance at the start of the year, the outlook for growth in housing activity remains positive,” Commerce Under Secretary Rebecca Blank said. “Americans continue to recognize that this is a good time to buy a home. Mortgage rates are low and the Administration's decision to extend the tax credit through April provides attractive opportunities for buyers in the coming months.”

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