Summary Box: Jobs, rents help US housing market

AP News

4/17/2012 4:57:19 PM - AP News

PERMITS UP: U.S. Builders requested a seasonally adjusted annual rate of 747,000 permits to build homes in March, the Commerce Department said Tuesday. The pace hasn't been that high since September 2008.

RENTS RISING: Rents are rising, which has spurred construction for both kinds of apartments and single-family homes. In Chicago, median rents in the past 12 months have risen 8.6 percent, or more than $100 a month.

MORE INTEREST: A survey of homebuilders has shown an increasing amount of foot traffic at open houses across the country since September.