Housing

Housing Starts at Four-Year High in October

Today brought another report from the housing sector and the news is good. Housing Starts rose by 3.6% to 894,000 in October, and September was revised slightly higher to 15.1% from 15.0%. Bloomberg was calling for 836,000 starts for October and the range was 780,000 to 873,000. Dow Jones was calling for 833,000.

Today’s report from the Commerce Department is yet another reading that confirms that the housing market recovery remains underway. This was the highest reading since July of 2008.

It is important to show that single-family housing fell 0.2% to 594,000 units, but that was still up over 35% from a year ago.

A housing start is registered at the start of construction of a new building that is intended to be a residential building, and it is defined as the beginning of excavation of the foundation for the building. The hurricane had very small impact because it only affected a small region at the very end of the month. These figures are seasonally adjusted.

JON C. OGG

Get Ready To Retire (Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Get started right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.