Single-family starts increased 6.4% from October to November to a 1.01 million seasonally adjusted annual rate, according to data from the U.S. Department of Housing and Urban Development.
“While single-family starts were up in November, single-family permits were flat as builders face mixed market conditions that include an election result that promises a focus on regulatory relief but ongoing elevated mortgage rates,” National Association of Home Builders Chairman Carl Harris said in a statement.
Overall housing starts decreased 1.8% from October to November to a seasonally adjusted annual rate of 1.29 million units.
Single-family permits increased 0.1% to a 972,000 unit annualized rate in November. Meanwhile, overall permits increased 6.1% to a 1.51 million unit rate.
Read the full report here.
