Nationwide housing starts in September have, for the third time in 2014, breached the million-mark, according to the U.S. Census Bureau.
Nationwide housing starts in September have, for the third time in 2014, breached the million-mark, according to the U.S. Census Bureau.
Housing production increased 6.3 percent to a seasonally adjusted annual rate of 1.017 million units. Single-family housing units went up 1.1 percent to a seasonally adjusted annual rate of 646,000 units, and multifamily production moved up 16.7 percent to 371,000 units.
The National Association of Home Builders is confident the trend will continue.
"September's uptick reveals that last month's dip in production was more of an anomaly than a market reversal," said NAHB Chief Economist David Crowe in a statement. "I expect we will see a continued recovery as job creation grows and consumers gain more confidence in the housing market."