Single-family houses fuel gains in US homebuilding in July

[Omaha Steve]

Source: AP

By JOSH BOAK

WASHINGTON (AP) — U.S. builders started work on single-family houses last month at the fastest pace since the Great Recession began in late 2007.

Housing starts in August rose 0.2 percent to a seasonally adjusted annual rate of 1.21 million homes, the Commerce Department said Tuesday. Construction of single-family houses accounted for all of the gains, shooting up 12.8 percent last month to the highest rate since December 2007.

Fueled by steady job gains and low mortgage rates, total housing starts have risen 11.3 percent year-to-date. The market is attracting more buyers and renters, as starts for apartment buildings have climbed 12.2 percent so far this year despite last month's drop.

But the report also showed the potential limits of new construction.

FULL story at link.



In this photo taken Tuesday, June 9, 2015, a roofer works on a home under construction in the Briar Chapel community in Chapel Hill, N.C. The Commerce Department releases housing starts for July on Tuesday, Aug. 18, 2015. (AP Photo/Gerry Broome)

Read more: http://bigstory.ap.org/article/dc03707483044e4980f17118bff70e7d/single-family-houses-fuel-gains-us-homebuilding-july

[wolfie001]

1. With all of the "The End is Near" posts here at DU.....

.....this article seem to run 180 polar opposite in the other direction. Seems like a lot of families are planning for a future. I hope they find lots of success!