Yes but new housing starts, often seen as a forward looking indicator of foture economic activity...
<Were up substantially. This would seem to indicate that the economy is headed the right direction as new home sales are a primary driver of other economic activity such as future durable goods purchases...(Ne home buyers usually by new washers, dryers, refrigerators, Microwaves, dishwashers, furnature, TV's, home improvement and landscaping supplies, lawn mowers, etc...
So this bodes very well for the future state of the American economy.
Scott