Housing starts surge in September
According to a report from Home Channel News, housing starts in September increased to a seasonally adjusted annual rate of 872,000, up 15% from August. The pace of residential construction was the highest since July 2008, and up 34.8% over the same figure last year.
Single-family starts also increased double digits - up 11% to a rate of 603,000.
Building permits in September were at a seasonally adjusted annual rate of 894,000, up 11.6% above the revised August rate of 801,000. Permits were up 45.1% over the September 2011 rate.
Source: Home Channel News