US housing starts, which represent permits for future home construction, jumped 3.8% in October to 1.314 million units, representing a twelve-year high.  Single family homes jumped 2% to a rate of 936,000 units, the highest level in nine months.  Multi-family properties soared 8.6% to a rate of 378,000 units.  The report also indicated increases in home completions and homes already under construction.  Overall, these numbers are directly reflective of a strong housing market, and the increase in inventory is very encouraging to future home buyers.  With these positive housing numbers, coupled with interest rates that remain very low, now may be the perfect time for buyers that have remained on the sidelines to enter the housing market.

Sources:

https://cnb.cx/2QK2q7U

http://bit.ly/2QGnyMf

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