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Housing Construction Is Back Up

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Housing Construction Is Back Up

Construction housing starts rebounded to a yearly rate of 1.093 million in July, a 15.7 percent increase over a dip in June caused by a fall in single-family construction in the South. As single-family construction rose 8.3 percent nationwide in July, increases were seen in three out of four regions.

The Midwest region was the only part of the country that saw single-family starts decrease, at a 6.8 percent downwardly revised figure of 109,000.

Additionally, housing starts in the multifamily sector jumped up to 437,000, the highest number since early 2006. That increase was also seen in three of the country’s four main regions. Midwest multifamily starts were down 46 percent but that was after an unusually low June. The June-July average is still significantly higher than the first half of 2014.

Read the full article from NAHB here.

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