Why the new housing numbers likely aren't a fluke, but a sign of the start of a housing comeback

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No doubt the housing market is still in turmoil, but signs today signal that it could be stabilizing.

Housing starts in August unexpectedly rose to their highest level in four months, the U.S. Commerce Department announced today. The 10.5% increase, reflecting a seasonally adjusted annual rate of 598,000 units,  is the biggest rise in housing starts since last November. What's more, permits for residential construction also rose. Following a 4.1% drop in July, new building permits rebounded 1.8% to a 569,000-unit pace in August. More