House hunters take heart: More new homes on the way

screen-shot-2016-10-19-at-6-23-31-pmBy Clare Trapasso | realtor.com

Like a rain shower in the parched West, a spot of relief appears to be on the way for the housing market, with more new homes in the works to meet the demand from frustrated home buyers.

The number of permits to build those sorely needed new homes rose nearly 9.5% in September compared with September of 2015, according to the U.S. Census Bureau’s new residential construction report. Permit numbers give a sense of how many homes will be built in the coming months. There were slightly fewer permits in September than in August, with a decline of 0.7%—most likely as a result of the cooler weather.

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