Building construction ticks upwards

Buoyed slightly by the growing number of consumers moving into new homes, the nation's home builders boosted their production of new units last month.

Housing starts in September reached a seasonally adjusted annual rate of 610,000, 0.3 percent above an upwardly revised August estimate of 608,000, reported the Commerce Department. That was also 4.1 percent higher than figures from a year ago, when 586,000 projects were started in September 2009.

Additionally, more construction projects were finished last month. Housing completions topped 648,000 in September, a 7.3 percent rise from the month before but down 10.1 percent from September 2009.

Construction activity could slow within the next few months, the report added, as fewer building permits were issued in September than the month before. Permits were down 5.9 percent from August and 10.9 percent from the year before, an indication that though they're becoming more optimistic, builders are still treading with caution in how they interpret the nation's moving activity.

Housing starts were most improved in the South region, which experienced a 4.8 percent monthly improvement.

That could foretell a larger number of Americans relocating to that part of the country. They could be drawn by employment opportunities, as research from the Milken Institute showed that some of the nation's best jobs markets are located in the South, in states such as Texas, Alabama and Louisiana.
 

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