U.S. new home construction rose in October by more than forecast to the fastest pace since February, highlighting a robust residential real estate market that’s helping spur the economy.

Residential starts increased 4.9% to a 1.53 million annualized rate from an upwardly revised 1.46 million a month earlier, according to a government report released Wednesday. The median forecast in a Bloomberg survey of economists called for a 1.46 million pace.