http://seattletimes.com/html/businesstechnology/2020591146_apushousingstarts.html
U.S. builders started more homes in February and permits for future construction rose at the fastest pace in 4 1/2 years.
The Commerce Department said Tuesday that builders broke ground on houses and apartments last month at a seasonally adjusted annual rate of 917,000. That’s up from 910,000 in January. And it’s the second-fastest pace since June 2008, behind December’s rate of 982,000.
Single-family home construction increased to an annual rate of 618,000, the most in 4 1/2 years. Apartment construction also ticked up, to 285,000.
The gains are likely to grow even faster in the coming months. Building permits, a sign of future construction, increased 4.6% to 946,000. That was also the most since June 2008, just a few months into the Great Recession.
Overall housing starts have risen 28% higher over the past 12 months. The starts jumped in the Northeast and Midwest, while they fell in the South and West. Permits rose in the South, West and Midwest, falling only in the Northeast.
The number of previously occupied homes for sale has fallen to its lowest level in 13 years.
The survey noted that the outlook for sales over the next six months rose to its highest level in more than six years.
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