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



Groundbreaking on U.S. single-family housing projects surged in September, pointing to sustained housing market strength even as a drop in the construction of multi-family units pushed overall home building activity to a 1-1/2-year low.
Wednesday's report from the Commerce Department also showed building permits surging last month, creating a backlog that economists said should boost residential construction in the fourth quarter.
"Home construction is in decent shape, despite the volatility in the multi-family segment," said Joel Naroff, chief economist at Naroff Economic... read more

 
19 October 2016 in Business, Views: 61
Source: Reuters
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