Good News, Apartment | featured news

U.S. builders broke ground in March on homes as a seasonally adjusted rate of 1.04 million — the fastest pace in nearly five years — on a surge in apartment construction. The gain signals further strength in the housing market ahead of the spring-buying season.

Housing starts and permits for future construction jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was starting to recover.

Apartment landlords continue to have the best of all worlds as rents go higher and vacancies fall.

Apartment rents rose during the first quarter, ending five straight quarters of declines and signaling the worst may be over for the hard-hit sector.