On Wednesday, the Commerce Department reported that housing starts last month jumped 29 percent over August 2011 to an annual rate of 750,000 units. (Housing starts represent the number of housing units that began construction in a given month.) Starts for single-family homes reached their highest point since April 2010. While positive, the overall number of starts fell slightly below what analysts were predicting (765,000).
When housing starts have jumped in past months, the increase has been attributed to the multi-family sector. This morning’s data reveals a bit of a change: multi-family starts actually fell 2.8 percent between July and August while single-family starts rose 5.5 percent month-over-month.
The full report from the Commerce Department is available here.
This article originally published at http://dc.urbanturf.com/articles/blog/housing_starts_up_reach_28-month_high/6046
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