Builders broke ground on more new homes last month, giving the weak U.S. housing market a slight boost at the start of the spring buying season. Home construction rose 7.2 percent in March from February to a seasonally adjusted 549,000 units. Building permits, an indicator of future construction, rose 11.2 percent after hitting a five-decade […]
Construction Spending on Positive Streak
A sign that an economic recovery is slowly getting underway is evident by figures from one of the most deeply impacted industries during the recession — the construction industry. November marked a third consecutive month with construction spending up. Development of new homes, along with an increase in government funding for federal construction projects, is […]
Housing Starts Hit 18-Month Low
New home construction fell to an 18-month low in October, according to a recent government report. Housing starts, or the number of new homes being built, fell 11.7% to a seasonally adjusted annual rate of 519,000 in October, down from a revised 588,000 in September. The annual rate is the lowest since the 477,000 starts […]
New Home Construction Cooled by Winter Weather
New Home Construction Cooled by Winter Weather Ice storms in the Midwest, blizzards in the nation’s capitol and northeast, and a wet El Nino weather pattern out west has brought some wild winter weather across the United States. This arctic chill explains why building construction has been falling this winter. According to the Commerce Department, […]