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Real Estate: New Home construction highest in 4 years

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Real Estate: New Home construction highest in 4 years - U.S. - construction - new home


According to the Commerce Department today the new home construction is highest in four years in September. Housing starts in the U.S. surged 15 percent in September to the highest level in four years.



Commerce Department today show that privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 894,000. This is a 11.6 percent above August rate of 801,000 and is 45.1 percent above the September 2011 estimate of 616,000.

The new report by Commerce Department show that Single family authorizations in September were at a rate of 545,000; this is 6.7 percent above the revised August figure of 511,000. Authorizations of units in buildings with five units or more were at a rate of 323,000 in September.


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