Housing starts climbed sharply according to the U.S. Department of Housing and Urban Development (HUD) and Census Bureau data. The seasonally adjusted annual rate of new home builds was 1,358,000 in September, indicating that people have been increasingly investing in the housing market.
This increase of 3.5% was accompanied by a 0.9% rise in building permits. The latest statistics reveal a gain in single-family houses being built as well as multifamily. The combined total of home starts also showed a growth of 5.4%. Across all regions of the nation, there was an increase in starts and permits, except for the West where permits declined by 1.9%.
The most important elements of the text:
• Housing starts increased 3.5% to 1,358,000 in September
• Building permits rose 0.9%
• Single-family and multifamily homes both showed positive growth
• All regions increased with the exception of the West where permits declined 1.9%
You can read this full article at: https://www.housingwire.com/articles/housing-construction-picked-up-in-september-but-developers-are-getting-anxious/(subscription required)
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