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New home construction up in Michigan

A worker builds a single-family home as construction in a new subdivision is underway in San Marcos, California, January 30, 2013. REUTERS/M
A worker builds a single-family home as construction in a new subdivision is underway in San Marcos, California, January 30, 2013. REUTERS/M

LANSING, MI (WTVB) - As Michigan's slow economic recovery continues, more homes are being built in the state. The number of new construction permits for single family homes in the state are well ahead of last year.  According to the latest data for January through May, there's been a 26-percent increase over the same period last year.

 Reportedly the upswing is the result of a combination of fewer existing homes on the market, low mortgage rates and the pent up demand that had been building among people waiting out the economic downturn.

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