What recession? The nation’s housing starts unexpectedly rose 22.2 percent in February.
Starts were up 30.2 percent in the South and 88.6 percent in the Northeast. The only region to see a decline was the West (off 24.1 percent).
But Mike Larson, a housing analyst with Weiss Research, isn’t convinced this is the start of something good.
“You have to ask yourself whether this is a case of “been down so long, it looks like up to me,” Larson said. “Or is this update more of a weather report than an economic report? In other words, did a warmer-than-usual February distort the seasonal adjustments, prompting more building activity to show up in the numbers than you would expect?”
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