US Oct housing starts hit 9-year high
Data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts reached 1,323,000 units with an increase of 25% when compared to 1,054,000 units registered in September. This was also up 23% from 1,073,000 units of the same period of last year.
The total housing starts in the first ten months of 2016 reached 11,691,000 units with an increase of 6% when compared to the same period of 2015. This was also the highest level seen since January-October 2007, the data showed.
Building permits in October also rose 0.3% from September and 4.6% from the same month of 2015.
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