U.S. Housing Industry Sees Rebound This July; Economics Cautiously Optimistic
Developers, rejoice -- the U.S. home construction industry is experiencing a positive rebound. The data for July has just come in, and the government is reporting that the month saw an eight-month high. Construction increased 16%, equating to a little over one million homes, when adjusted for seasonal inflation.
Experts had predicted a less dramatic upswing for July. The better than expected performance can be a good indicator that the economy as a whole is rebounding, and that the housing construction industry itself is experiencing more long-term gains. Economists always hope to find that the housing market is growing stronger, because new-home construction has a positive impact on the national economy. Building spurs demand for raw goods and creates jobs, while new home buyers help o...