NAR: Home prices are firming

Real Estate News Blog Headline

Single-family home construction rises

Construction of single-family homes rose 1 percent in July, the fifth month of continuous increases and a 37 percent rise compared to last winter when housing construction hit bottom, the U.S. Commerce Department announced Tuesday. Construction of apartment buildings fell 13 percent in July, which pushed the combined level of construction starts down 1 percent to a seasonally adjusted annual rate of 581,000 units. This number surprised some knowledgeable observers who had predicted an overall increase.

Posted: August 18, 2009

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