Pace of home-building jumps in July across U.S.
By Associated Press on Aug 17, 2013, at 2:28 AM Updated on 8/17/13 at 3:42 AM
Real Estate
U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.
New home construction in the Tulsa region from January to August is outpacing last year's numbers, a continuation of the upward tick that started in 2012 following a six-year slide.
Developers across the nation broke ground on new homes at a faster pace in July, partly reversing a sharp drop in the previous month. The figures suggest that housing construction is maintaining its recovery.
The Commerce Department said Friday that builders began work last month on houses and apartments at a seasonally adjusted annual rate of 896,000. That was up 6 percent from June, though below a recent peak of just over 1 million in March.
In June, builders had sought the most building permits for single-family homes in five years.
Real Estate
U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.
New home construction in the Tulsa region from January to August is outpacing last year's numbers, a continuation of the upward tick that started in 2012 following a six-year slide.
