According to new data, housing starts rose in the month of September, says a report from the U.S. Census Bureau and the Department of Housing and Urban Development.
Nationally, housing starts were up 15 percent in September over the previous month, and are up 10.2 percent over September 2010. This accounts for a seasonally adjusted rate of 658,000 units.
Single-family homes, which make up 70 percent of all starts, rose 1.7 percent to a rate of 425,000 units.
"The September starts report shows new housing activity to be stronger than expected," according to analysts with Econoday. "The big question is whether the demand exists to absorb added supply."
This data comes a day after the National Association of Home Builders confidence index rose four points for the month of October.
The growing number of home starts directly impacts Houston real estate. The Houston Association of Realtors announced in its September report that Houston-area home sales have increased for the fourth straight month, performing better than the national average. This growing trend might mean it's a good time to look at Houston listings for a new home.
Courtesy of 2M Realty News