Stats: Housing starts up 14.8% in November

The Census Bureau reported that privately owned housing starts in November were at 1,560,000, 14.8% above the revised October estimate. 
Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,560,000, 14.8% above the revised October estimate.

The Census Bureau, Washington, D.C., reported that privately owned housing starts in November were at 1,560,000, 14.8% above the revised October estimate. 

Permits were down 2.5% in November.    

“The single-family starts figure is remarkably strong, and we would not be surprised to see this figure revised lower or fall back slightly in the next month, given the nearly 20% rise in November,” says Robert Dietz, chief economist at the National Association of Homebuilders. 

“NAHB is forecasting an approximate 4% gain for single-family starts in 2024, as mortgage rates settle lower, economic growth slows and inflation moves lower.” 

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