New Housing Construction in America at Highest Level Since 2007

New housing starts in the United States grew to more than a nine-year high. Builders began construction on both multifamily and single homes, which raises prospects that the housing market will aid economic growth in America. The Commerce Department reported groundbreaking on new homes increased 25.5 percent, placing it at the highest rate since August 2007.

The increase spanned all four regions of the U.S. in October 2016. Now is a great time to relocate to the United States. Contact GCLExperts, as the DV Program allows 50,000 visas available to people all around the world. You could be one of those people!

Government permits for future construction crept up 0.3 percent in October. Permits for single-family homes saw an increase of 2.7 percent in October also. Construction starts for the often-fickle multi-family sector grew 68.8 percent to 454,000-units. Buildings with five or more units grew to the highest level since June 2015.

Rising salaries for jobs along with low unemployment in America is contributing to the housing market growth. With the economic growth happening in the United States, now is a good time to move to the United States, so contact GCLExperts today to get help with your application process.