Single-family housing starts rose 3.9 percent to a seasonally adjusted annual rate of 430,000 units in October, according to the National Association of Home Builders and the U.S. Commerce Department.
officials said this improvement was somewhat masked by an 8.3 percent decline
in multifamily starts that kept the combined number for nationwide housing
production virtually flat at 628,000 units in October.
single-family permits also posted a measurable gain of 5.1 percent to 434,000
units in the latest report, which is their fastest pace since December of 2010.
government's numbers for October housing production are very much in keeping
with what home builders have been telling us in our recent surveys,” said Bob
Nielsen, chairman of the NAHB and a home builder from Reno, Nev. “While we
still have a long way to go toward a recovery, some signs of hope are emerging
in certain markets where economic and job growth is occurring and where
foreclosures have not been an overwhelming obstacle.”
combined housing starts in October declined by a barely perceptible 0.3 percent
to a rate of 628,000 units, the single-family sector posted a 3.9 percent gain
to 430,000 units. Also, the multifamily sector posted an 8.3
percent decline to 198,000 units following an unsustainably large gain in the
Single-family housing starts rise in October, says NAHB
November 23, 2011