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September 20th, 2012
01:01 PM ET

Housing starts up in August

Some good housing news Wednesday. Housing starts are up. According to the Commerce Department, construction of homes and apartments rose 2.3% to a seasonally adjusted annual rate of 750,000 last month.

Single-family housing starts alone rose 5.5% to an annual rate of 535,000 homes, the best pace since April 2010. That's why the National Association of Home Builders reported that builders' confidence is the highest since 2006.

Which brings us to tonight's number: 71%.
Despite the increases we are still 71% below the housing start high of January 2006.

Housing recovery blossoms

The U.S. housing industry - crucial to any jobs recovery - showed more signs of strength, according to two reports issued Wednesday.

The Census Bureau said housing starts and permits rose substantially in August. Separately, sales of previously occupied homes climbed 7.8% from a year ago, according to the National Association of Realtors.

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Filed under: News • The Number
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