It seems that the only "bright" spot in the construction market is the building of "condos." I think perhaps they mean apartments. It has become more difficult to buy a house of late and, as is well known, there are a lot of foreclosures out there. Some who are considering buying a home are hesitant to take the plunge now because of an uncertainty where the economy (and home values) will finally bottom out. People have to have a place to live however so it just makes some sense (I suppose) that apartments are being built. Won't be long before the cost of renting will be over the top. It is reported that rent is already starting to rise in many markets.
Of course the stock market is up a tad on this bit of news. That and the Casey Anthony release.