U.S. single-family housing starts surge; multi-family segment falters

U.S. single-family housing starts surge; multi-family segment falters
 

U.S. single-family starts surged in September, pointing to sustained housing market strength even as a drop in the construction of multi-family dwellings pushed overall home building activity to a 1-1/2-year low.
Groundbreaking on single-family housing projects, which accounts for the largest share of the residential housing market, jumped 8.1 percent to a 783,000-unit pace last month, the Commerce Department said on Wednesday. That was the highest level since February.
A tightening labor market, which is steadily pushing wages higher, as well as low mortgage rates are underpinning demand... read more

 
19 October 2016 in Business, Views: 40
Source: Reuters
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