Housing Rebound Likely to Endure in U.S. Through Fed Liftoff

The rebound in U.S. home construction picked up in July as builders broke ground on more projects than at any time in almost eight years.

Residential starts rose 0.2 percent to a 1.21 million annualized rate, the most since October 2007, from a 1.2 million pace the prior month that was higher than previously estimated, Commerce Department data showed Tuesday in Washington. The gain was led by single-family houses, the mainstay of the market.