U.S. Housing Starts Top Forecast on Single-Family HomesBy
Work began on the most single-family homes since January 2008
Applications to work on single-family homes at eight-year high
New-home construction in the U.S. rebounded in November, led by gains in single-family dwellings that signal the residential real estate industry will continue to support growth in the world’s largest economy.
Housing starts climbed 10.5 percent to a 1.17 million annualized rate from a 1.06 million pace in October, figures from the Commerce Department showed Wednesday in Washington. The median estimate of 81 economists surveyed by Bloomberg was for a 1.13 million rate. Work began on the most stand-alone houses since January 2008, and permits for similar projects reached an eight-year high…
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