Housing starts increase 6 percent in July
Housing starts in the U.S. increased 6 percent in July, according to a report from our sister site, Equipment World.
The increase follows a 9.9-percent drop in home construction in June.
The figures come from new Commerce Department data, which show that home starts rose in July to a seasonally adjusted rate of 896,000 — 21 percent higher than a year ago.
Multi-family home construction rose 26 percent in July to 290,000, while single-family housing starts fell 2.2 percent to 591,000.
Building permits rose 2.7 percent to a seasonally-adjusted annual rate of 943,000 — a five-year high and a 12.4-percent increase over a year ago.
Builder confidence is up too. The monthly builder sentiment index from the National Association of Home Builders and Wells Fargo rose for the fourth consecutive month in between July and August from a 56 to a 59, which is the highest since November 2005.
From our partners
Sandvik Construction’s extensive range of rock tools are world renowned for combining…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- Quarry worker safety is a big deal in the U.S., but not everywhere in the world322 Views
- Historical aggregate landmark disappears into Lake Superior216 Views
- Can John Oliver's stand on U.S. infrastructure do for highway funding what “Last Week Tonight” did for net neutrality? (VIDEO)180 Views
- Telsmith sponsors white paper on permitting147 Views
- Aggregate production up 7 percent in 2014136 Views