Home construction at lowest since fall

By: Nathalie Weinstein//July 20, 2010//

Home construction at lowest since fall

Nathalie Weinstein//July 20, 2010//

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U.S. new home construction last month fell to its lowest level since October 2009, from the Department of Commerce.

Though single-family home construction declined only 0.7 percent between May and June, new construction of condominiums and apartments fell 20 percent. Combined, all new residential construction declined 5 percent from 578,000 to 549,000 homes. In October 2009, only 576,000 new homes were constructed.

Housing completions, on the other hand, fared well between May and June. Single-family home completions increased 31.3 percent in June, while overall housing completions increased 26.2 percent from May to June.