Housing starts rise to highest level in 4 years

Builder confidence at 6-year high

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

U.S. housing starts in October were up 3.6 percent from September and 41.9 percent from October a year ago to reach heights they haven’t seen since 2008, according to the latest numbers from the U.S. Census Bureau.

Builders started construction on new homes and apartment units during October at a seasonally adjusted annual rate of 894,000, up from a downwardly revised rate of 863,000 in September and last year’s rate of 630,000, the Census Bureau said.