Tuesday, October 20, 2009

Fewer home-building permits, but Construction rose 7.1 percent in the South

Fewer home-building permits signal weakness ahead - Yahoo! News, but...

At the same time, the Commerce Department said Tuesday that construction of new homes and apartments rose 0.5 percent last month to a seasonally adjusted annual rate of 590,000 units...

The 0.5 percent rise in overall housing construction in September followed a 1 percent drop in August that was revised down from an initial estimate of a 1.5 percent gain.

Construction of single-family homes rose 3.9 percent last month to an annual rate of 501,000 units, reversing a 4.7 percent drop in August....

Construction rose 7.1 percent in the South...