US Housing Starts Increase to Fastest Pace Since April
- New construction rose 9.6% in August to 1.36 million pace
- Gain due to more one-family home starts; permits also climbed
This article is for subscribers only.
US housing starts bounced back in August after tumbling a month earlier, illustrating uneven residential construction as builders weigh inventory levels against brighter demand prospects tied to falling borrowing costs.
Beginning home construction increased 9.6% last month to a 1.36 million annualized rate, the fastest since April, according to government figures released Wednesday. The median estimate of economists surveyed by Bloomberg called for a 1.32 million rate.