Housing Starts Up On Rise In Apartment Construction

Housing starts crept up 1.5% in August, due primarily to an increase in multi-family construction in the Northeast, the Commerce Department reported Thursday. Permits also were driven up by apartment construction. August starts came in at a seasonally adjusted annual rate of 598,000, a gain of 1.5% from a revised July estimate of 589,000 but 29.6% (±6.0%) below the August 2008 rate of 849,000. [Read this article]

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