Mortgage California Blog

Home Building Spiked in September

October 28th, 2011

Home building reached the highest pace in 17 months during September with new projects, according to an article in the Seattle Times, which is a hopeful sign for both the economy and the market.

A large part of this was apartment construction, which bodes well for job creation and the economy but does not significantly affect the housing market.

Single family homes made up about 70% of the building projects, a small increase. The Commerce Department said on Wednesday that 658,000 homes were built in September, about half of the ideal healthy economic amount but still a 15% improvement over August.

 

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