The Level of Construction of new US homes rose in June to the highest that it has been in seven months. 

Many builders are rushing to build homes for first time home buyers that are taking advantage of the first time home buyer tax credit. The Commerce Department reported last week that construction of new homes and apartments has risen 3.6% over last month.  “This was the most positive housing report in ages” said Patrick Newport, an economist with IHS Global Insight. 

Home buyers are finding that now is the time to buy with low home prices, and the $8000 tax credit that first-time home buyers will be receiving until December 1.