Housing starts in September were up 15% from August, according to the Commerce Department, with every region up in numbers except for the Northeast. This is highest housing starts have been at in four years.
While an increase in housing starts is typically a good indicator that the U.S. economy is heading out of a recession, the current uptick is not enough to bring the economy back to where it once was.
However, economists note that the increase is starting to have its effect on the economy.
Single-family starts were up 21% from last year, and forecasts indicate they will increase 26% and 30% in the next two years. Multifamily starts were up 26% this year, but are expected to slow to 6% next year.
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