The underpinnings of an economic upswing continue on several fronts including housing, which saw starts soar 25.5% in a single month driven by a 74.5% surge in multifamily units.  At an annual pace of 1,323,000, starts are now at the highest level since August 2007.

The best percentage increase since July 1982 was aided by 10.7% improvement in single family starts.

The number is impressive, but there is room for improvement.  The 1959 to 2016 average annual pace has been 1,439,410, a major improvement from the record low of 478,000 for April 2009.

I keep writing about animal spirits – they’re real and were already on the move before November 8^th.