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

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FOR IMMEDIATE RELEASE

Tuesday, August 17, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

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

The Commerce Department’s U.S. Census Bureau today released data on new residential construction in July 2010.  Permits for new housing units declined 3.1 percent in July.  Housing starts increased 1.7 percent, consistent with private­sector expectations of a 2.0 percent increase. 

“Today’s data show that new housing activity appears to be stabilizing in the wake of the expiration of the home buyer tax credit,” Commerce Secretary Gary Locke said. “However, a healthy economy requires not only a robust housing sector but strong employment and incomes, and President Obama remains committed to developing policies that encourage job creation and broad economic growth.”

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