Homebuilding is on Fire; Best Pace in Over a Decade

#Residential #construction rates #soared in July with both #permits and #starts increasing from their June pace by #double #digits and topping 2019 #numbers for the #same #period. It was, however, #multifamily #starts that #drove the #huge July #gains. They #rose 56.7 #percent month-over-month to 547,000 from 349,000 and were 67.8 percent #higher than a #year #earlier. #Single-#family starts #grew by an #impressive 8.2 percent as well, to 940,000 from 869,000 (#revised from 831,000) and were 7.4 percent #ahead of #their #July 2019 #pace. https://tinyurl.com/yymmspx6 https://tinyurl.com/y2xk9laa