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Statement from Commerce Secretary Gary Locke on New Residential Construction in March 2010

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FOR IMMEDIATE RELEASE

Friday, April 16, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Commerce Secretary Gary Locke on New Residential Construction in March 2010

The Commerce Department’s U.S. Census Bureau today released new residential construction data for March 2010. Permits for new housing units jumped 7.5 percent in March, housing starts increased 1.6 percent in March and starts in February were revised up considerably. Permits have advanced 37.6 percent and starts have risen 30.7 percent above their low points in April 2009. “The good news is that housing permits and starts came in above expectations and are up substantially from their lows last year,” Commerce Secretary Gary Locke said. “But housing data can be volatile. The outlook is positive, but President Obama understands there is much work left to ensure continued economic growth and to put Americans back to work.”