U.S. builders started work on more homes in August, driven by the fastest pace of single-family home construction in more than two years.
The Commerce Department recently announced that construction of homes and apartments rose 2.3% to a seasonally adjusted annual rate of 750,000 last month, up from 733,000 in July.
Single-family housing starts rose 5.5 percent to an annual rate of 535,000 homes, the best pace since April 2010.
Since hitting a low of 478,000 in April 2009, the rate of home construction has increased by nearly 60%.
Additionally, confidence among builders rose in September to the highest level in more than six years, according to a survey released Tuesday by the National Association of Home Builders/Wells Fargo.
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