Housing starts rise in July

Housing starts rose 15.7 percent from June to July, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 1.1 million compared with a revised estimate of 945,000 in June.

Single-family housing starts rose 8.3 percent. Building permit applications, which are viewed as a barometer of future construction, rose 8.1 percent in July to 1.05 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. And housing starts were 21.7 percent higher in July than in July 2013. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 8/20/2014