Housing Sector Improvement

AP: Housing posts surprising rebound in April

...a huge increase in apartment construction, which can be extremely volatile from month to month. Apartment building, defined as two or more units, jumped by 36 percent to a seasonally adjusted annual rate of 340,000 units.

The larger single-family sector dropped by 1.7 percent to an annual rate of 692,000 units.

Even with the improvement, housing construction nationwide was 30.6 percent below the level of activity a year ago.