homeWelcome, sign in or click here to subscribe.login
     


 

 

Construction


Subscriber content preview

June 17, 2009

New home construction jumps by 17.2 percent

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON — Construction of new homes jumped in May by the largest amount in three months, an encouraging sign that the nation's deep housing recession was beginning to bottom out.

The Commerce Department said Tuesday that construction of new homes and apartments jumped 17.2 percent last month to a seasonally adjusted annual rate of 532,000 units. That was better than the 500,000-unit pace that economists had expected and came after construction fell in April to a record low of 454,000 units.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.