The July rebound reflected strength in single-family home construction, which rose 8.3 percent, and in apartment construction, which was up 33 percent. A report Monday indicated homebuilders are feeling more confident about their sales prospects, a hopeful sign that home construction and sales of newly built homes could pick up after stalling in recent months. Builders' views of current sales conditions for single-family homes, their outlook for sales over the next six months and traffic by prospective buyers all increased in August, brightening the outlook. A mix of rising home prices, higher mortgage rates and weak wage growth have made it more difficult for potential buyers to buy a newly built home.
Us Home Construction Jumps 15.7 Percent In July
By MARTIN CRUTSINGER, AP Economics Writer, San Antonio Express-News: World
Tue, 08/19/2014 - 7:00am
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