Housing posts surprising rebound in April
WASHINGTON (AP) - Construction of new homes posted the biggest increase in more than two years in April, a rare bit of good news in what has been the worst downturn in housing in more than two decades.
The Commerce Department reported Friday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units, as a big jump in apartment construction offset further weakness in single-family homes. The gain represented a recovery after a steep slump in March building pushed activity to the slowest pace in 17 years.
MOREAny good news about the economy is bad news for DUmmies.