US home construction up 1.9%

Home building continues as one of the bright spots of the economy.

By

National News

October 20, 2020 - 10:14 AM

Flat lay of real estate concept

WASHINGTON (AP) — U.S. home construction rose a solid 1.9% in September after having fallen in the previous month, as home building continues as one of the bright spots of the economy.

The increase last month pushed home construction to a seasonally adjusted annual rate of 1.42 million homes and apartments after a 6.7% drop in August, the Commerce Department reported Tuesday. 

Applications for building permits, a good barometer of future activity, rose an even stronger 5.2% to 1.55 million units.

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