Housing starts rise in August

Housing starts rose 0.9 percent from July to August, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 891,000 compared with 883,000 in July.

Single-family housing starts rose 7 percent. Building permit applications, which are viewed as a barometer of future construction, fell 3.8 percent in August to 918,000.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. Housing starts also were 19 percent higher in August than in August 2012. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 9/18/2013