Housing Starts At Fastest Pace In 4 Years
USACE Commanding General visits with director of the Republic of Korea Defense Installations Agency by USACEpublicaffairs
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
UNITED STATE builders began construction last month on the most houses and apartments since July 2008, even more proof that the real estate recovery is gaining momentum. The Commerce Department stated Tuesday that builders broke ground on houses in October at a seasonally adjusted annual rate of 894,000. That's a 3. 6 percent gain from September. Single-family home construction dipped 0. 2 percent to an annual rate of 594,000, below a four-year high in the previous month. Apartment construction, which is more volatile from month to month, increased 10 percent to an annual rate of 285,000. Applications for building permits, a sign of future construction, fell 2. 7 percent to 866,000, after jumping 12 percent in September to a four-year high. Still, permit applications to build single-family houses increased to their greatest level since July 2008.
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Country: U.S.
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Company: BMO Capital Markets
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Organization: Commerce Department
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Organization: National Association of Realtors
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Housing Starts At Fastest Pace In 4 Years
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U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum. Builders broke ground on homes at a seasonally adjusted annual rate of 894,000.
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