Privately owned housing starts in November was reported at a seasonally adjusted annual rate of 1.29 million, a 3.3 percent increase compared with October’s rate of 1.25 million and 12.9 percent above the November 2016 rate of 1.15 million, according to the U.S. Census Bureau.
Single-family starts were at a seasonally adjusted annual rate of 930,000 units, a 5.3 percent increase compared with October’s rate of 883,000 and a 13 percent increase compared with November 2016’s rate of 823,000.
"The strong November reading indicates that builders are continuing to increase single-family production to meet growing demand for housing," said NAHB Chief Economist Robert Dietz in a statement. "With low unemployment and increasing owner-occupied household formation, single-family starts should continue to make gains in 2018."
