July 13, 2024
housing market
housing market

The Commerce Department reported today that U.S. housing starts surged in September at their fastest annual pace in 17 months!

Single-family home construction, which accounts for a larger share of the market,  increased 1.7 percent while buildings with two or more units rose 51.3 percent.

The largest increase in  housing starts was for multi-family units.

Well, like any good news in today’s housing market, one should be kept in mind that even with this jump in housing starts, the total level of housing starts is still very depressed and has been so for the past three years.