Housing starts across the nation rose 1.6% in March, according to the Commerce Department; these stats mark a rise to the highest level seen since November of 2008.  Analysts believed the starts would rise to approximately 610,000 units; the actual 626,000 units were unexpected.

The Commerce Department also showed that new building permits rose 7.5% which is the highest seen since October of 2008.  New building permits give a feel for what the new home construction has in store in the future.  According to Cary Leahey, Decision Economics economist, "Some of the worries about the housing market have been alleviated by this report."