CONSTRUCTION DIPS: Builders began work on a seasonally adjusted 571,000 homes in August, the Commerce Department said Tuesday. That's a 5 percent decline from July and a three-month low.
SINGLE-FAMILY, APARTMENTS: Single-family homes, which represent roughly two-thirds of home construction, fell 1.4 percent. Apartment building plunged 12.4 percent. Building permits, a gauge of future construction, rose 3.2 percent.
BUILDERS WAITING: Home construction is down nearly 6 percent over the past year. But permits are up nearly 8 percent. That suggests builders aren't working on new homes, but may be preparing to start dormant projects when the economy improves.