The number of new residential permits was half the number issued during September 2011, but the total number of new permits for 2012 is 10 more than it was last year.
Bottom line: The new residential sector is doing better than last year but its performance is lackluster compared to the other economic sectors. Existing home sales and prices are up and while the jobs sector is softer than what many would like, there are more people working now than before the recession. Last month the average weekly wage also made good gains against the average during the same period last year.
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