The number of apartment building and single-family home construction projects commissioned throughout the United States increased by 0.8 percent in February, and home construction demand is expected to continuing growing, according to a recent U.S. Department of Commerce report. Last month, permit requests hit the highest level in the U.S. since June 2008, prompting experts to predict home construction will continue growing in the near future, MarketWatch reported. Permit requests increased in February by 4.6 percent to a rate of 946,000.
After a long economic downturn, the construction industry is already experiencing the signs of rebound activity that were forecasted.
“The housing recovery continues to run at a solid pace, with both broader trends pointing to a steady recovery in the sector,” TD Securities strategist Gennadiy Goldberg affirmed in a written note quoted by MarketWatch.
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