Imagine how good things would be if the R’s worked with us instead of against us.
WASHINGTON (AP) — U.S. builders started more houses and apartments in February and obtained permits for future construction at the fastest pace in 4 ½ years. The increases point to a housing recovery that is gaining strength.
The Commerce Department said Tuesday that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That’s up from 910,000 in January. And it’s the second-fastest pace since June 2008, behind December’s rate of 982,000.
Single-family home construction increased to an annual rate of 618,000, the most in 4 ½ years. Apartment construction also ticked up, to 285,000.
The gains are likely to grow even faster in the coming months. Building permits, a sign of future construction, increased 4.6 percent to 946,000. That was also the most since June 2008, just a few months into the Great Recession.
And the figures for January and December were also revised higher. Overall housing starts have risen 28 percent higher over the past 12 months.