Housing Starts At Fastest Pace In 4 Years | Reduction

Housing Starts At Fastest Pace In 4 Years

Cali Condoze by Keoni Cabral
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Excerpt:

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. The Commerce Department said Tuesday that builders broke ground on homes 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, after hitting the fastest rate in four years in the previous month. Apartment construction, which is more volatile from month to month, rose 10 percent. 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 homes rose to their highest level since July 2008. Housing starts are 87 percent above the annual rate of 478,000 in April 2009, the recession low.

Keywords:

single-family home seasonally adjusted annual rate month housing bubble Housing starts home construction sales Commerce Department building permits tax revenue tax credit market helping slowdown recession looming apartments Realtors condominium rents purchases five years healthy a survey mortgage prices global rates group

Housing Starts At Fastest Pace In 4 Years

Additional Info:

Organization: Commerce Department

Overall Sentiment: 0

Relevance: 0.71686

Organization: National Association of Realtors

Overall Sentiment: 0

Relevance: 0.696723

Country: U.S.

Overall Sentiment: 0

Relevance: 0.716667

Disambiguation: Location | Region | AdministrativeDivision | GovernmentalJurisdiction | FilmEditorReferences:

• United States
• United States: dbpedia
• United States: freebase
• United States: ciaFactbook
• United States: opencyc
• United States: yago

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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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Full Content: http://www.npr.org/2012/11/20/165554339/housing-starts-at-fastest-pace-in-4-years?ft=1&f=1017

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