America's housing starts spike to 12-year high in August

Housing and Urban Developmen | September 18, 2019

America's housing starts spike to 12-year high in August
Housing starts spiked 12.3% in August to a seasonally adjusted annual rate of 1.364 million and the pace for July was revised downward, according to the Department of Housing and Urban Development and the Department of Commerce. Augusts housing starts are now 6.6% above last year’s rate of 1.279 million. Low mortgage rates and the strong job market convinced homebuilders to ramp up production in August. Housing starts surged to the fastest pace since 2007, as both single-family and multifamily segments saw sizable gains, said Mortgage Bankers Association Vice President of Economic and Industry Forecasting Joel Kan.

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Alberta Queen's Printer holds copyright on behalf of the Government of Alberta in right of Her Majesty the Queen for all Government of Alberta legislation. Alberta Queen's Printer permits any person to reproduce Alberta’s statutes and regulations without seeking permission and without charge, provided due diligence is exercised to ensure the accuracy of the materials produced.

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