partlycloudy
Tuesday September 1st, 2015 2:18PM

Home construction jumps 15.7 percent in July

By The Associated Press
WASHINGTON (AP) -- U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines.<br /> <br /> Construction increased 15.7 percent in July to a seasonally adjusted annual rate of 1.09 million homes, the Commerce Department reported Tuesday. That was the fastest pace since November and followed declines of 4 percent in June and 7.4 percent in May.<br /> <br /> Applications for building permits, considered a good sign of future activity, also showed strength in July, advancing 8.1 percent to an annual rate of 1.05 million, after declines of 3.1 percent in June and 5.1 percent in May.<br /> <br /> The July rebound reflected strength in single-family home construction, which rose 8.3 percent, and in apartment construction, which was up 33 percent.<br /> <br /> The strength in July was led by a 44 percent rise in construction starts in the Northeast. Housing construction was up 29 percent in the South, recovering from a 26.8 percent plunge the month before blamed in part on heavy rains in that part of the country.<br /> <br /> A report Monday indicated homebuilders are feeling more confident about their sales prospects, a hopeful sign that home construction and sales of newly built homes could pick up after stalling in recent months.<br /> <br /> The National Association of Home Builders/Wells Fargo builder sentiment index rose in August to 55, up two points from a revised 53 for July. That is the third straight monthly increase and put the index at its highest reading since January, when it was 56. Readings above 50 indicate more builders view sales conditions as good rather than poor
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 8 months ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 8 months ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 8 months ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 8 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 8 months ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 8 months ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 8 months ago )
Local/State News
HEMC in negotiations to acquire broadband provider
While no official announcement has been made, Habersham Electric Membership Corp. officials confirmed the electric cooperative is in negotiations to purchase an area Internet provider.
1:52PM ( 26 minutes ago )
Butts Co. man gets life behind bars in death of Forsyth Co. child
A 26-year-old Butts County man will spend the rest of his life in prison for the murder of his girlfriend's 3-year-old son in Forsyth County.
12:03PM ( 2 hours ago )
Stephens named Helen police chief
Helen has a new police chief, and he's a familiar face in town.
10:30AM ( 3 hours ago )
Hall Co. authorities arrest suspect in recent Lanier Islands shooting
After a two week investigation, Hall County authorities have made an arrest in a shooting that left a man injured at a birthday party at Lake Lanier Islands last month.
9:56AM ( 4 hours ago )
OSHA proposes fine against plastic manufacturer in Oakwood
U.S. Labor officials have proposed $141,100 in fines against a manufacturer in Oakwood following two work-related finger amputations earlier this year.
8:41AM ( 5 hours ago )