Builders picked up the building pace in April as the industry streaked past analyst estimates for new home starts. Led mainly by the development of multi-family projects builders showed that they exist to do one thing - build. While the country still faces a massive glut in properties builders are placing their bets in lower-cost multi-family units. As deep discounts and incentives seem yet to stem the tide of single-family malaise home builders are looking for other ways to keep the revenue streams to at least a trickle.
From Market Watch on the housing start up-tick:
U.S. home builders broke ground on 8.2% more homes in April, led by a 36% increase in multi-family units, the Commerce Department estimated Friday. Housing starts rose to a seasonally adjusted annual
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