September Housing Starts Rebound Strongly, Reach Highest Level in 16 Years

Total housing starts surged by 13.3 percent in September to a seasonally adjusted annual rate of 1.84 million units, the highest in 16 years, according to Commerce Department figures. Solid gains were recorded for all regions of the country, more than recovering the ground lost during the three previous months, with single-family starts hitting a 24-year high.

“The housing market is rock solid and continues to hold up the economy,” said Gary Garczynski, a builder/developer from Woodbr

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