Home construction increased last month and applications for building permits also grew. The gains were driven mainly by apartment and condominium construction, not the much larger single-family homes sector.
Try not to be lured in by the spin. A one month up tick in building permits and housing start doesn't mean much. The year over year change in building permits turned negative in June and has accelerated to the downside ever since.
Building Permits And Change YOY
Source: news.yahoo.com
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