Housing Recovery Continues to Show Strength

CNNMoney reports U.S. Census Bureau figures indicate home building rose to its highest level in four years in Oct., with builders beginning construction at the annual adjusted rate of 894,000 last month, 3.6 percent better than the previous month. While single-family home starts changed little from Sept., multi-family building has spiked. Although building permits fell 2.7 percent from Sept., housing starts have skyrocketed 42 percent from year ago levels, and permits have risen 30 percent in that same period. As MHProNews has learned, with mortgage rates at record lows, demand for homes is up, indicating more signs of a housing recovery.

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