Although housing construction rose in August, permits for single-family homes dipped 0.2 percent.
From Martin Crutsinger, the Associated Press:
WASHINGTON — Housing construction rose in August, but the results were mixed, with the large single-family sector falling for the first time in six months.
The August performance added to signs that the housing industry has begun to recover from its worst downturn in decades. Still, economists cautioned that the rebound likely will be slow and tentative, given the glut of unsold homes and record levels of home foreclosures.
