Housing Market, Home Construction | featured news

Builders broke ground on more single-family homes and apartments in June, helping the battered construction industry gain a little life after a dismal spring.

The Commerce Department's report on new home construction is likely to show that multifamily properties is the bright spot in the beleaguered market.

Builders began work last year on the second fewest number of homes in more than half a century, as the weak economy kept people from buying houses.

Construction of new homes and apartments surged 10.5 percent in August from a month earlier, the Commerce Department said Tuesday. That's the highest level since April.

The results were driven by a more than 20 percent drop in the volatile condominium and apartment market.

Housing construction fell in February as winter blizzards held down activity in the Northeast and Midwest. The decline highlighted the challenges facing builders as they struggle to emerge from the worst housing slump in decades.