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New Home Construction Climbs to Four-Year High

Posted on Tuesday, November 20th, 2012 at 9:32 pm    

Construction on new homes in the U.S. has climbed to a four-year high during the month of October. According to officials with Bloomberg, these numbers are much higher than the Commerce Department estimated.

Statistics show that the housing starts raised 3.6 percent to an 894,000 annual rate. The number of single-family homes has also increased to the highest rate of four years.

Economists have said that these numbers show signs that the housing industry is improving and that this will help the overall US economy.

It has been thought that a lower risk in falling property values as well as record low mortgage rates, may be the reason for the decline. There is no longer a large supply with the new increase in demand. Economists have stated that this is a good sign for the construction industry.

With an increase in housing construction, companies may be able to expand their business and create new jobs for the industry. The construction headhunters at Construction Hunters know the importance of leadership in a construction firm and are here to help you find the best fit for your business. We use a confidential search in order to find the most talented people in the industry.  Contact us today in order to discuss the options available to you.