Posted To: MND NewsWire
Housing starts surged in November to the highest seasonally adjusted rate since March and the second highest in the last 12 months. The U.S. Census Bureau and the Department of Housing and Urban Development said the topline residential construction numbers, both housing starts and permits, rose during the month and both outperformed analysts’ expectations. Housing starts were up 11.8 percent compared to October’s seasonally adjusted annual rate of 1.502 million units (revised from 1.520 million) to 1.679 million and were 8.3 percent higher than the rate in November 2020. Analysts polled by Econoday and Trading Economics both fell far short of the month’s numbers. Their respective forecasts for starts were rates of 1.563 million and 1.568 million units. The increase in starts was reflected in…(read more)
