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