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Home Construction Up 10.5% in August

WASHINGTON, DC-According to the Commerce Department, home construction climbed 10.5% in August 2010 to 598,000 because of a 32% increase in condominium and apartment construction, an unpredictable part of the market.

By GlobeSt News Hub | Updated on September 22, 2010

WASHINGTON, DC-According to the Commerce Department, home construction climbed 10.5% in August 2010 to 598,000 because of a 32% increase in condominium and apartment construction, an unpredictable part of the market.

The overall housing starts increased 25% in August 2010 compared to that of April 2009, while construction of single-family houses, which accounted for 73% of the overall market in August, increased a mere 4% when compared to that of July 2010. However, the home-building industry still needs years to recover.For the full story, go to Boston Globe.

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