Single-family housing starts in November were at a seasonally adjusted annual rate of 768,000, a 7.6 percent increased compared with October’s rate of 714,000, according to the U.S. Census Bureau.
"Single-family production this month has reached levels last seen before the Great Recession, an indicator that we are making gradual headway back to a normal housing market," said David Crowe, National Association of Home Builders chief economist, in a statement. "As we close out the year, we can see that the housing sector has made headway in 2015, and we expect the recovery to continue at a modest pace."
Overall, privately owned housing starts in November increased 10.5 percent to a seasonally adjusted annual rate of 1.17 million, compared with October’s rate of 1.06 million, and are 16.5 percent above the November 2014 rate of 1.01 million.
Single-family permits were at a seasonally adjusted annual rate of 723,000 in November, a 1.1 percent increase from October’s rate of 715,000.
Single-family housing completions in November were at a rate of 632,000, a 0.3 percent increase above October’s rate of 630,000.
