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.
Stay connected to the stories and events that make your community a special place to call home.
Subscriptions start at $14.90/month.View subscription options
- Unmatched coverage of Allen County’s local news and sports, a tradition dating back to 1867
- Compelling portraits of our residents, experienced reporting and thoughtful analysis
- Unlimited online access to iolaregister.com and our archives