WASHINGTON — The U.S. November housing starts data show continued improvement, suggesting housing will contribute to fourth-quarter growth.
November housing starts surged 9.3% to 685,000 units and permits were up 5.7% to 681,000, well above expectations — the highest levels since spring 2010. October starts and permits were revised a little lower to 627,000 and 644,000, respectively.
Permits were up 1.6% for single-family homes and surged 16.1% for five-plus units, and apartment building appears to be gaining in the Northeast and West regions. Permits for single-family units were up 5.1% in the Northeast, flat in the Midwest, up 0.4% in the South, and up 4.7% in the West.
