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August 20, 2014

Home construction jumps 15.7% in July

  • Economists noted that the numbers were much better than expected.
  • By MARTIN CRUTSINGER
    AP Economics Writer

    WASHINGTON — U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines.

    Construction increased 15.7 percent in July to a seasonally adjusted annual rate of 1.09 million homes, the Commerce Department reported Tuesday. That was the fastest pace since November and followed declines of 4 percent in June and 7.4 percent in May.


     
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