Housing starts rise for 3rd straight month

Multifamily starts jump 114% year-over-year

Homebuilders broke ground on more new homes in September for the third straight month, according to a report by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD).

Private housing starts hit a seasonally adjusted annual rate of 610,000 last month — the highest level in five months and a 28 percent gain from the lowest level ever recorded by the Census Bureau: a rate of 477,000 in April 2009.