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News Dec. 21, 2021

Housing starts climb to eight-month high in November

Housing starts increased 11.8% in November to a seasonally adjusted annual rate of 1.679 million units—the highest level since March, according to The rate was higher than economists’ expectations of 1.568 million units.

Housing starts were up 8.3% compared with November 2020. Applications for building permits, a good indication of future activity, rose 3.6% to 1.712 million units in November.

Single-family housing starts were up 11.3% at 1.173 million units, and the rate for multifamily starts was 560,000 units, up from 470,000 units in October.

A recent survey from the National Association of Home Builders showed confidence among single-family homebuilders rose for a fourth straight month in December but noted “finding workers, predicting pricing and dealing with material delays remains a challenge.”


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