Housing starts rise in November

Housing starts rose 22.7 percent from October to November, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 1.09 million compared with 889,000 in October; the November rate is the highest since February 2008.

Single-family housing starts rose 20.8 percent. Building permit applications, which are viewed as a barometer of future construction, fell 3.1 percent in November to 1.01 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. Housing starts also were 29.6 percent higher in November than in November 2012. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 12/18/2013