Housing Starts Up on Surge in Apartments

Washington, DC, Oct. 19, 2011 -- Housing starts in September rose at the fastest pace in 17 months, according to the Commerce Department.

Most of the gain came from apartment construction.

Single-family home construction, which represents nearly 70% of homes built, rose only slightly. And building permits fell to a five-month low.

Builders began work in September on a seasonally adjusted 658,000 homes, the Commerce Department said.

That's a 15% increase from August and the best pace since April 2010,

Single-family homes rose 1.7%. Building permits fell 5%.