Sunday, Jun 26, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Economy

Apartment construction spurs rise in new homes

WASHINGTON — U.S. developers broke ground on homes at a faster pace in July. But the rise was all because of apartment construction, which is typically volatile. By contrast, builders began work on fewer single-family homes — the bulk of the market — and sought fewer permits to build them.

Friday’s Commerce Department report suggests home building is holding its recovery but might be starting to be restrained by higher mortgage rates. Builders began work on houses and apartments at a seasonally adjusted annual rate of 896,000 in July, up from 6 percent in June, the department said. Building began on 26 percent more apartments but fell 2.2 percent for single-family houses.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…