Housing starts bounce back strongly

Activity for single-family homes in the South were at the highest level in a decade, rising 16.6% from September

By Laura Kusisto and Sarah Chaney | The Wall Street Journal 

U.S. housing starts rose last month to the highest level in a year, a sign that builders are getting back on track after hurricanes lashed the southeast and dampened residential construction activity in September.

Housing starts increased 13.7% in October from the previous month to a seasonally adjusted annual rate of 1.29 million, the Commerce Department said Friday. Residential building permits, which can signal how much construction is in the pipeline, jumped 5.9% to an annual pace of 1.297 million last month.

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