Housing starts and permits jumped last month as groundbreaking increased 6.3%, averaging 1.02 million-unit pace annually according to the Commerce Department. With interest rates falling this year, the housing market has made great strides toward recovery since 2007. An economist at Bank of America Merrill Lynch, Michelle Meyers said, “if you look at the trend, you are still seeing an upward trajectory.” New single-family housing starts increased 1.1% last month, and volatile multi-family homes segment rose 16.7%. More here
