AFP: US home building hits 4-year high
WASHINGTON — US home construction and building permits surged in September, government data showed Wednesday in fresh confirmation of a recovery under way in the depressed housing market.
Housing starts leaped 15.0 percent from August to an annual rate of 872,000, the strongest pace since July 2008, the Commerce Department said.
Starts were up 34.8 percent year-over-year.
The monthly gain was well above the average analyst forecast of 768,000.
And the Commerce Department upwardly revised the prior two months’ gains, notably by 1.8 point to 4.1 percent for August.
Starts on single-family homes, the largest segment of the market, jumped 11.0 percent from August.
There has been a steady stream of good economic news the last couple months. Whoever wins the election will have a solid foundation to build from in that arena.