Housing Starts Rise for First Time in Three Months
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Housing starts rose in November by builders in the U.S. for the first time in three months as the struggling housing market attempts to recover.
The Commerce Department reported on Thursday that housing starts rose 3.9 percent to 555,000 annual pace in November, in line with the economist consensus. October's pace was revised higher to 534,000.
The report also showed that permits dropped to a 560,000 annual rate.
From the same month last year, housing starts dropped 5.8 percent, while permits fell 15 percent. the construction of single-family homes rose 6.9 percent to a rate of 465,000, the highest mark since April.
Three of the four regions in the U.S. showed an increase in housing starts, with the Midwest leading the way with a 16 percent increase.
The Commerce Department reported on Thursday that housing starts rose 3.9 percent to 555,000 annual pace in November, in line with the economist consensus. October's pace was revised higher to 534,000.
The report also showed that permits dropped to a 560,000 annual rate.
From the same month last year, housing starts dropped 5.8 percent, while permits fell 15 percent. the construction of single-family homes rose 6.9 percent to a rate of 465,000, the highest mark since April.
Three of the four regions in the U.S. showed an increase in housing starts, with the Midwest leading the way with a 16 percent increase.
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