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US Housing Starts

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US housing starts jump to highest level of the 阿拉爱上海同城

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year But increase is from finicky multifamily projects

Multifamily construction

U.S. housing starts jumped 13.7 percent last month, reaching the highest leve上海贵族宝贝论坛

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l seen all year.

The increase hints that builders are back to work after hurricanes walloped the southeast and slowed residential construction, the Wall Street Journal reported. Housing starts hit a seasonally adjusted annual rate of 1.29 in October, the Commerce Department said on Friday. Building permits for residential projects increased 5.9 percent to an annual pace of 1.297 million last month.

”It was a little bit of a dead cat bounce after the hurricanes,” Terrell Gates, CEO of Virtus Real Estate Capital, told the Journal.

But don t get too excited. Economists warned that the g上海龙凤论坛sh1f

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rowth was largely driven爱上海同城论坛

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by the 37 percent increase in multifamily starts, which can be volatile month-to-month. Single-family start increased 5.3 percent in October. [WSJ] — Kathryn Brenzel

Tags: Residentia上海千花网龙凤论坛

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l Real Estate
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