US Home Construction Dipped in July

WASHINGTON (AP) -- U.S. builders slowed their pace of housing construction slightly in July. But in a hopeful sign for future construction, applications for building permits rose to their the highest level since August 2008.

The Commerce Department said construction of single-family homes and apartments dipped 1.1 percent in July compared with June, to a seasonally adjusted annual rate of 746,000. In June, the rate had been 754,000, the fastest pace since October 2008.

Housing has been making a modest comeback this year. But even with the gains, the rate of construction and the level of permits remain only about half the 1.5 million annual rate considered healthy.


More Stories

Don't Miss

  • Community Calendar
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Connect with 8 News NOW
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Deadly Dust: Asbestos
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Community Pride
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Politics Now
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.