New-home construction in the U.S. climbed in June to the second-highest level since November 2007 as builders stepped up work on apartment projects.
Housing starts rose 9.8 percent to a 1.17 million annualized rate from a revised 1.07 million in May that was stronger than previously estimated, figures from the Commerce Department showed Friday in Washington. The median estimate of economists surveyed by Bloomberg was a 1.11 million rate. Ground-breaking on multifamily dwellings jumped 29.4 percent.
Read more...Housing Starts in U.S. Surge to Second-Highest Level Since 2007 - Bloomberg Business
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