Housing starts for October rose to 894K, the highest rate since July 2008. Year-over-year, housing starts are up 42%. The West region of the United States led the way with a 17.2% increase from September. The Midwest had a gain of 8.9%, while the South and Northeast had declines of 2.5% and 6.5%.
The Housing Starts report measures the number of residential units on which construction is begun each month. A start in construction is defined as the beginning of excavation of the foundation for the building and is comprised primarily of residential housing.