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U.S. housing construction expanding

Source: The Wall Street Journal’s Market Watch

WASHINGTON — New construction of U.S. houses expanded for the third straight month in September, the Commerce Department estimated Tuesday.

Starts rose 0.3% in September to a seasonally adjusted 610,000 annualized units, much stronger than the 578,000 pace expected by economists surveyed by MarketWatch.
This is the highest level of starts since April.

Starts of new single-family homes rose by 4.4% to 452,000 in September, while starts of large apartment units fell 9.7% to 158,000.

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