Home Building Climbs Again, But Jobs Still Lag

Published by peter | Filed under Market Trends

Home construction surged in June, adding to evidence the housing market is beginning to bounce back, but rising unemployment threatens to hinder a strong economic recovery, according to reports released Friday.Construction of new homes rose in June by 3.6% from the prior month to a seasonally adjusted annual rate of 582,000, the Commerce Department said Friday. It was the third consecutive monthly gain, leaving the level of new-home construction at its highest since November.