National News

Mar 18, 2014 8:41 AM by Associated Press

US home construction fell for a 3rd month in Feb.

WASHINGTON (AP) - U.S. home construction fell for a third month in February, but in a hopeful sign, applications for building permits rose to their highest level in four months.

The Commerce Department says builders started work on 907,000 homes at a seasonally adjusted annual rate in February. That was down a slight 0.2 percent from January, when construction had fallen 11.2 percent. The declines have been blamed in large part on severe winter weather in much of the country.

Applications for permits to build new homes, considered a gauge of future activity, rose a solid 7.7 percent in February to 1.02 million units.

The expectation is that housing sales and construction will show further gains this year, helped by a stronger economy.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

»Comments

PLEASE HELP US MODERATE COMMENTS

Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at feedback@ksby.com, and include the name of the story and information on the comment.

Thank you! KSBY.com


Most Popular

Top Videos

1 2 3 4