Increased Rental Demand – Good For Corporate Housing
Demand for Rentals Drives Big Rise in Home Building
Residential construction surged in November, sparking cautious hope that the U.S. housing market is gaining traction.
Housing starts hit a seasonally adjusted annual rate of 685,000 units, the highest level in 19 months, the Commerce Department said Tuesday.
Starts in November were up 9.3% from October and 24.3% ahead of the November 2010 figure.
While those gains are sizable, starts remain well below the one million to 1.5 million annual pace needed for a healthy market….