Home Building Spikes In June

Builders broke ground on more single-family homes and apartments in June, as the home-building industry tried to shake off a historically bad spring.

The Commerce Department says builders began work on a seasonally adjusted 629,000 homes last month, a 14.6 percent increase from May. Still, that's roughly half the 1.2 million homes per year that economists say must be built to sustain a healthy housing market.

Apartment construction, a volatile part of the industry, surged 31.8 percent last month. Single-family home construction rose a more modest 9.4 percent. Building permits, a gauge of future construction, increased 2.5 percent.

More homes lead to more jobs. For every home built, three jobs are created for a year and about $90,000 in taxes are generated, according to the National Association of Home Builders.

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  • by BIG DOG Location: Richlands on Jul 19, 2011 at 11:14 AM
    Come to onslow county the builders have gone crazy. Their building alot of cheap homes that in a year or two will fall apart and their not selling very good but the county keeps raising taxes.They need to stop.Two much woodland and farms are dieing out here.
  • by Huh??? on Jul 19, 2011 at 09:30 AM
    Where is this happening? Not in NC.
  • by Mustang Location: mdstate on Jul 19, 2011 at 06:21 AM
    If the government says it, it must be true. This info comes from the same group that has been telling us that unemployment is going down and that we are out of the recession.

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