Homebuilders Accelerate New Construction as More People Look to Buy a House

U.S. home construction starts jumped 22.6% in July, the best gain since October 2016, as builders react to record low interest rates and a resilient economy by increasing residential building.

Residential starts jumped to a 1.496 million annualized rate in July, according to U.S. Census data released Tuesday, beating analyst expectations for 1.25 million. Building permit applications came in at an annualized rate of 1.495 million, better than the 1.3 million consensus estimate and up 18% from June.

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Source Fool.com