Skip to comments.New Home Construction Edges Up 1.7 Percent in July
Posted on 08/17/2010 6:29:16 AM PDT by markomalley
WASHINGTON -- New home construction edged up slightly in July but applications for building permits tumbled to the lowest point in 14 months, a sign of continued stress in housing.
Construction of new homes and apartments rose 1.7 percent in July, the Commerce Department reported Tuesday. Still, applications for building permits, considered a good sign of future activity, fell 3.1 percent.
A rebound in housing is considered critical for a sustained economic recovery. But builders continue to struggle with weak demand for new homes caused by high unemployment and a glut of foreclosed homes on the market.
The July increase in housing construction pushed total activity to a seasonally adjusted annual rate of 546,000 units. Building activity in June was weaker than first reported. It fell 8.7 percent to an annual rate of 537,000 units, the slowest pace since October of last year.
Housing construction got a boost earlier in the year when the government offered buyers up to $8,000 in federal tax credits. But after the incentives expired at the end of April, sales and constructions activity slumped.
(Excerpt) Read more at foxnews.com ...
But that 1.7% increase in July -- that's gonna hold steady, right? We're not going to find out a month from now that the increase was actually a bit less than that, are we?
” New Home Construction Edges Up 1.7 Percent in July “
THE RECESSION IS OVER!!!!!!!!!!!!!!!!
/does this really need a ‘sarc’ tag??
Hummm, right now at Hot Air is a post about the latest HUD and census bureau report that states new residential construction went down 3.7% in July.
We'll find out that they were probably off by less than 2%.
Happy Days Are Hear Again!
Happy Days Are Here Again!
I don’t believe any reports issued by any agency of this corrupt administration.
Before you pop the cork compare
These figures are all lies... new housing starts are down... this is just another proof of the evil that is the US government today.
Don’t need to, my comment was sarcasm.
factoring in the “Subprime Mortgates for Immigration Amnesty Recipients” market
they revised last months numbers down to make these look better
” they revised last months numbers down to make these look better “
And, the DJIA dutifully goes ‘up’, right on cue.... (+43 points, last I checked..)
It’s scary to me that with interest rates in the mid 4% range there’s no bump in housing. That’s under $800/month on a 200,000 loan.
Around our area there are more sightings of bigfoot or the Loch Ness Monster than there are sightings of homes under construction.