US home building climbed 13.2 percent in April - WOWK 13 Charleston, Huntington WV News, Weather, Sports

US home building climbed 13.2 percent in April

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • UPDATE: Route 2 now open following tractor trailer accident

    UPDATE: Route 2 now open following tractor trailer accident

    Monday, August 25 2014 4:00 PM EDT2014-08-25 20:00:48 GMT
    A tractor trailer is blocking part of Route 2. The road is closed until further notice. Drivers heading in both direction are being asked to use the Big Ben Bowen Highway connector by Target to get around.
    A tractor trailer is blocking part of Route 2. The road is closed until further notice. Drivers heading in both direction are being asked to use the Big Ben Bowen Highway connector by Target to get around.
WASHINGTON (AP) -

U.S home construction surged in April to its highest pace in six months. But almost all that increase came from the volatile apartment sector, a sign that Americans are still struggling financially to buy single-family homes.

The Commerce Department says builders started work on 1.07 million homes at a seasonally adjusted annual rate in April, up 13.2 percent from 947,000 in March. The gains were driven by a 42.9 percent jump in the construction of apartments and condominiums. The rate of building single-family homes rose just 0.8 percent.

Most of the gains in multi-family housing were concentrated in the Northeast and Midwest, regions that are bouncing back from the harsh winter.

Applications for building permits, a gauge of future activity, rose 8 percent to an annual rate of 1.08 million.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.