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Home construction up 4.9% in October

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www.clickorlando.com

CHARLOTTE, N.C. – The number of newly issued permits to build fresh housing remained steady in October. Housing starts rose 4.9%, and are up 14% higher than a year ago, the Commerce Department reported Wednesday, to an annualized rate of 1.53 million.Building permits remained at a seasonally adjusted rate of 1.55 million annualized units, effectively unchanged from September.

The figure remains up 2.8% from a year earlier, showing how strong the housing market did over the summer despite the pandemic. .

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