FOR IMMEDIATE RELEASE
Tuesday, September 20, 2011
CONTACT OFFICE OF PUBLIC AFFAIRS
The Commerce Department’s U.S. Census Bureau today released data on new residential construction in August 2011. Permits for new housing units rose 3.2 percent in August to their highest level in 2011, despite private-sector expectations of a 1.8-percent decline. Housing starts, however, declined 5.0 percent in August, while private-sector analysts expected a 2.3-percent decline.
“Today’s housing report offers some positive, forward-looking news with a strong increase in housing permits. But as a whole, we know the market is volatile and struggling, which reinforces the urgent need to take action to put more people back to work and put more money in the pockets of American families,” Acting U.S. Commerce Secretary Rebecca Blank said. “The sooner we pass the president’s American Jobs Act and deliver immediate help to American families, the sooner more businesses will start hiring and the sooner more people will get back to work and be in a position to invest in a new home.”