In the month of February construction on new homes increased 22% unexpectedly. This was following an 8 month fall, it was the first time home construction increased since June when it rose 11 percent.

The housing construction increase last month was mainly due to the rise of multi-family homes, which counted for 80% of the construction.

February proved to be a tough month for homeowners as nearly 208,000 notices of default were sent out. This is the highest foreclosure rate for one month since the foreclosure crisis began.

In Los Angeles there was a 60% increase if foreclosure filings in February, which is a major sign of increased job loss.