Single-family construction surge continues in October

October housing starts came at a seasonally adjusted annual rate of 1.53 million units, a 4.9% improvement from the previous month, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Still, experts are generally rosy on construction in the near-term, bolstered by single-family’s strength as homebuyers continue to yearn for space. Per Kan, “MBA’s recently published November forecast includes a strong pace of single-family starts next year, which should provide sufficient inventory to support a faster pace of home sales.”

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