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FXstreet.com (Barcelona) - The situation of the US housing market seems to have improved somewhat in April, as both housing starts and building permits have shown considerable pick ups on the month, according to data released by the US Commerce Department.

Starts of new houses have increased by 8.2% in April to a seasonally adjusted annual rate of 1.032 million, from the 940,000 revised annual rate posted in March, the current level, nevertheless, is still 30.6% lower than the 1.487 million annual rate posted in April 2007.

Building permits, a forward looking indicator for construction activity, have posted a 4.9% increase in April to a seasonally adjusted annual rate of 978,000, from the n932,000 annual rate posted in March, again we are talking about levels 34,3% below the 1.489 million units annual rate in April 2007.

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