Housing Starts Hit 4-Year High in September
This article from USA Today reports that “builders started construction on single-family homes and apartments in September at the fastest pace since July 2008, a further indication that the housing recovery is strengthening.” (paragraph 1). It further proves its point with the following statistics:
- “The Commerce Department says builders broke ground at a seasonally adjusted annual rate of 872,000 in September. That's an increase of 15% from August.” (paragraph 2).
- “Applications for building permits, a sign of future construction, jumped nearly 12% to an annual rate of 894,000, also the highest since July 2008.” (paragraph 3).
- “The strength in September came from both single-family construction, which rose 11%, and apartments, which increased 25.1%.” (paragraph 4).
- “Construction activity is now 82.5% higher than the recession low in April 2009. Activity is still well below the roughly 1.5 million rate that is consistent with healthier markets.” (paragraph 5).
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