Spending on new-home construction rose to its highest level in nearly five years in July, despite rising mortgage interest rates impacting home affordability. Spending on private residential construction rose 0.6 percent to a seasonally adjusted annual rate of $334.58 billion – the highest level since September 2008, the Wall Street Journal reported, citing Commerce Department figures. Residential spending in June was also adjusted up to a 0.4 percent increase from a previously reported 0.1 percent decline, the Journal said.
Posted on: Wed, 04 Sep 2013 00:00:00 +0000
Trending Topics
Recently Viewed Topics
© 2015