New-Home Builds Increase, Fall Short of Forecasts

Before you go, we thought you'd like these...
Before you go close icon
Home construction is up, but not enough to mount a recoveryBuilders are building more new homes, but apparently not enough to constitute a recovery. While housing starts increased 1.7 percent in July, to 546,000, those numbers were substantially lower than the 560,000 anticipated, according to the Commerce Department. New building permits fell 3.1 percent to a 14-month low, indicating that future home construction plans were weak. While the increases hardly indicate a robust recovery, they do suggest that the likelihood of a double-dip recession is lower than previously believed, say some economists.




More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a New Home

Buy
Rent
Value
Powered by Zillow

From Our Partners