FAIRFIELD-SUISUN, CALIFORNIA

Business

US home construction jumps 15.7 percent in July

By From page B8 | August 20, 2014

WASHINGTON — U.S. home construction rebounded in July, rising to an eight-month high and offering hope that housing has regained momentum after two months of declines.

Construction increased 15.7 percent in July to a seasonally adjusted annual rate of 1.09 million homes, the Commerce Department reported Tuesday. That was the fastest pace since November and followed declines of 4 percent in June and 7.4 percent in May.

Applications for building permits, considered a good sign of future activity, also showed strength in July, advancing 8.1 percent to an annual rate of 1.05 million, after declines of 3.1 percent in June and 5.1 percent in May.

The July rebound reflected strength in single-family home construction, which rose 8.3 percent, and in apartment construction, which was up 33 percent.

The strength in July was led by a 44 percent rise in construction starts in the Northeast. Housing construction was up 29 percent in the South, recovering from a 26.8 percent plunge the month before blamed in part on heavy rains in that part of the country. Sales rose 18.6 percent in the West but fell 24.8 percent in the Midwest.

 

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | 1 comment

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Please read our Terms of Service and Privacy Policy before commenting.

  • JimboAugust 20, 2014 - 10:50 am

    Please no more McMansions. Many are built out of such inferior material they can not stand up to being lived in without major repairs almost constantly. Of course the developer just uses the quick disrepair to encourage those new home buying tenants to invest in one of his later developments. Lather-rinse-repeat.

    Reply | Report abusive comment
  • Recent Articles

  • Enter your email address to subscribe and receive notifications of new posts by email.

  • Special Publications »

    Use of this site constitutes acceptance of our Terms of Service (updated 4/30/2015) and Privacy Policy (updated 4/7/2015).
    Copyright (c) 2015 McNaughton Newspapers, Inc., a family-owned local media company that proudly publishes the Daily Republic, Mountain Democrat, Davis Enterprise, Village Life and other community-driven publications.