Builders stepped up home construction in April

May 16, 2014

FORTUNE -- Homebuilders stepped up home construction for a third-straight month in April, suggesting the home-building industry sees growth ahead after a difficult winter.

U.S. housing starts rose 13.2% to a seasonally adjusted annual pace of 1.07 million last month, according to a Commerce Department report Friday. The primary driver of the increase was a big jump in multi-family homes. Single-family home construction rose just 0.8%.

Building permits issued were also up, rising 8% to a pace of 1.08 million.

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