The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug. of 2008. New multi-family home production spiked 25.1 percent to 269,000 units, the best pace since Sept. 2008. Meanwhile, permit issuance for new home construction rose 11.6 percent in Sept. to 864,000 units. MHProNews has learned new home construction and permit issuance rates are the strongest numbers in both categories in over four years. Regionally, new home construction rose in three of the four area, with only the Northeast showing a decline.
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