Construction : Residential construction is expected to continue to rebound as the economy improves

The residential housing market has begun to show a sustained development in 2013 as a result of lower inventory, rising prices, attractive financing to qualified buyers, as well as an improvement in the gneral economy.

Commercial construction has also begun to rebound but not as quickly as the residential sector due to the large number of vacancies and longer lead-times required to complete new projects.

Concerns about the Fed interest-rates "taper" have caused a run-up in mortgage rates. Higher rates have led to a slowdown in refinancing activity.

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