U.S. new home starts jump to fastest pace in 4 years

The Commerce Department says housing starts jumped 3.6 percent in October from September to a seasonally adjusted annual rate of 894,000. Single-family home construction dipped 0.2 percent.

WASHINGTON (AP) - U.S. builders started construction last month on the most single-family homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.