Housing starts in November grew 3.2% to a seasonally adjusted annual rate of 1.36 million, according to the U.S. Census Bureau.
The rate is 13.6% above the November 2018 housing start rate. The jump is in line with a steady improvement in the pace of construction in 2019, according to National Association of Home Builders Chief Economist Robert Dietz.
“Under the current estimates, the 2019 year-to-date total for single-family construction is just 0.4% lower than the 2018 sum and is on pace to come in relatively flat for the year,” Dietz stated.
Building permits grew 1.4% in November (up 11.1% year-over-year), as housing completions fell 6.6% (up 7.3% year-over-year).
The full report can be found here.
Read Next
