The underpinnings of an economic upswing continue on several fronts including housing, which saw starts soar 25.5% in a single month driven by a 74.5% surge in multifamily units. At an annual pace of 1,323,000, starts are now at the highest level since August 2007.
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The best percentage increase since July 1982 was aided by 10.7% improvement in single family starts.
The number is impressive, but there is room for improvement. The 1959 to 2016 average annual pace has been 1,439,410, a major improvement from the record low of 478,000 for April 2009.
I keep writing about animal spirits – they’re real and were already on the move before November 8th.
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