US Home Construction Hits Highest Pace In 5 Years - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

US Home Construction Hits Highest Pace In 5 Years

Posted: Updated:
WASHINGTON (AP) - U.S. builders broke ground on homes at the fastest pace in more than five years, evidence the housing recovery is accelerating despite higher mortgage rates.
    
The Commerce Department says developers began construction on houses and apartments in November at a seasonally adjusted annual rate of 1.09 million. That's the fastest pace since February 2008, just a few months after the recession began.
    
Construction of single-family homes jumped 21 percent to an annual pace of 727,000, also the highest in more than five years. Apartment construction soared 26 percent to a 354,000 annual pace.
    
Permits for future building slipped 3 percent to just over 1 million, down from 1.04 million in October. The drop reflected a decline in apartments, which can be volatile. Permits for single-family homes rose.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

HD DOPPLER 6i
/
  • National NewsMore>>

  • Mad Minute stories from Tuesday, January 16th

    Mad Minute stories from Tuesday, January 16th

    Wednesday, January 17 2018 2:06 AM EST2018-01-17 07:06:43 GMT

    Here are the extended versions of the KHQ Local News 11 at 11 Mad Minute stories from Tuesday, January 16th.

    More >>

    Here are the extended versions of the KHQ Local News 11 at 11 Mad Minute stories from Tuesday, January 16th.

    More >>
  • National Geographic Travel names Spokane one of the best small cities in the U.S.

    National Geographic Travel names Spokane one of the best small cities in the U.S.

    Tuesday, January 16 2018 5:44 PM EST2018-01-16 22:44:13 GMT

    National Geographic Traveler named Spokane in their list of 29 "Cities on the Rise." They drew from statistics and social media mentions to determine which cities rank highest in a variety of fun categories including green spaces, coffee shops, live music, and even Instagrammable moments. The list includes Honolulu, Hawaii, Boulder, Colorado, and Olympia, Washington.

    More >>

    National Geographic Traveler named Spokane in their list of 29 "Cities on the Rise." They drew from statistics and social media mentions to determine which cities rank highest in a variety of fun categories including green spaces, coffee shops, live music, and even Instagrammable moments. The list includes Honolulu, Hawaii, Boulder, Colorado, and Olympia, Washington.

    More >>
  • Mad Minute stories from Monday, January 15th

    Mad Minute stories from Monday, January 15th

    Tuesday, January 16 2018 2:00 AM EST2018-01-16 07:00:08 GMT

    Here are the extended versions of the KHQ Local News 11 at 11 Mad Minute stories from Monday, January 15th.

    More >>

    Here are the extended versions of the KHQ Local News 11 at 11 Mad Minute stories from Monday, January 15th.

    More >>