An article from MSNBC.com, reports that during the worst downturn in housing in more than two decades, construction of new homes posted the biggest increase in more than two years in April. According to the Commerce Department, housing construction rose by 8.2% in April to a seasonally adjusted annual rate of 1.03 million units. The growth came from a big increase in apartment construction. Apartment building, defined as two or more units, jumped by 36% to a seasonally adjusted annual rate of 340,000 units, while the larger single-family sector dropped by 1.7% to an annual rate of 692,000 units. Considered a good sign of future activity, applications for building permits also recorded an increase in April, rising by 4.9% to 978,000 units. This was the first gain in permits in five months.
http://www.msnbc.msn.com/id/24664672/
http://www.msnbc.msn.com/id/24664672/
