Housing construction up 8.2%

Housing starts post surprising rebound

Construction of new homes posted the biggest increase in more than two years in April, a rare bit of good news in what has been the worst downturn in housing in more than two decades.

Now, apartment construction is the prime mover behind these numbers, so it’s not like the housing market has turned the corner.

For what it’s worth, I guess I would have thought that apartments might be down a tick as lower house prices and continued low unemployment opened the door for more first-time home buyers.