Housing Starts Surging in the US

New Home StartsGroundbreaking on new homes surged in September to its fastest pace in more than four years, a sign the housing sector’s budding recovery is gaining traction and supporting the wider economic recovery.

Housing starts increased 15 percent last month to a seasonally adjusted annual rate of 872,000 units, the Commerce Department said on Wednesday.

That was the quickest pace since July 2008, though data on starts is volatile and subject to substantial revisions.

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