Housing starts reach four-year high in September

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Housing starts rose 15 percent from August to September, according to USA Today. Construction increased to a seasonally adjusted annual rate of 872,000 compared with 758,000 in August.

Additionally, single-family construction starts rose 11 percent, and building permit applications, which are viewed as a barometer of future construction, rose 11.6 percent in September.

Population growth and low-interest rates reportedly are reviving the housing market. Single-family housing starts are expected to be up 21 percent this year compared with 2011 and to increase 26 percent and 30 percent during the next two years.

Multifamily housing starts rose 56 percent in 2011 and are expected to be up 26 percent this year and then slow to 6 percent.

10/23/2012

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