US Housing Recover Continues

NEW YORK (CNNMoney) -- The housing recovery blossomed in September, as the pace of home building surged to a four-year high, according to a government report issued Wednesday.

Builders started work at an annual pace of 872,000 homes last month, up 15% from the pace in August. They also filed for permits to build homes at an annual rate of 894,000, up 11.6% from the previous month. Both readings were the best since the summer of 2008, before the meltdown in financial markets that caused home lending and building to freeze up.

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