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.
Shawn
Kaplan is an active, 50 state Licensed loan officer with Access National
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