In the month of June, housing production rose nationwide by 6.9%, to a seasonally adjusted rate of 760,000 home units. According to these newly released figures from the US Census Bureau and HUB, this is the fastest rate of new homes construction since October 2008.

“What’s especially encouraging is that, as consumers realize the advantages of purchasing a newly built home while prices and interest rates are so favorable, builders are able to put more crews back to work on construction sites across the country,” said National Association of Home Builders chairman and Florida builder Barry Rutenedge. He continued, “his in turn is helping spur local economic growth, and policymakers need to be very careful to not take any steps that would derail the beginnings of such a positive trend at this crucial time.”

This is the fourth consecutive month single-family housing rates have risen. Multifamily rates have risen 12.8%, keeping pace with the increasing demand for rental units.

Regionally, combined single and multifamily homes housing has risen 36.9% in the West and 22.2% in the Northeast, but fell 7.3% in the Midwest and 4.2% in the South during the month of June. Declines were due to monthly volatility on the multifamily units, as single-family homes showed increases in every region during June.

This increase is good news for all home builders. It shows an increase in interest in the housing market from consumers, who are starting to feel more secure about buying a new home and more comfortable with the market. For more information, check out this article by the National Association of Home Builders.