home construction

Construction of new U.S. homes surged 10.5 percent in August, the Commerce Department said Tuesday, as applications for building permits rose.

Home construction plunged last month to the lowest level since December and building permits also fell, the latest signs that the construction industry won't fuel the economic recovery.

Construction of new homes dipped unexpectedly last month as bad weather hit much of the country.

Aa big surge in apartment building offset a decline in single-family home construction, the government said.

Investors weighed upbeat news on home construction against earnings results that showed the continued impact of the downturn.

The price of a key ingredient in white paint fell in April, signaling another drop-off in home construction and renovation activity, and hinting at more economic weakness ahead.