WASHINGTON — U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.
The Commerce Department said Tuesday that builders broke ground on homes in October at a seasonally adjusted annual rate of 894,000. That’s a
3.6 percent gain from September.
Single-family home construction dipped 0.2 per-cent to an annual rate of 594,000., down from a four-year high.