US. New housing starts set a four-year high.

WASHINGTON (MarketWatch) — U.S. home builders broke new ground in September at the fastest pace in more than four years and permits also rose sharply in the strongest sign yet that recovery in the construction trade is becoming firmly entrenched.

Construction on new homes accelerated by 15% to an annual rate of 872,000 last month from a revised 758,000 in August, the Commerce Department said. The increase easily surpassed the 770,000 estimate of economists surveyed by MarketWatch.

Work on new single-family homes, which account for about three-quarters of the housing market, rose 11% last month….

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