Source: Thinkstock
The seasonally adjusted rate of new building permits rose to 899000, which is 3.6% above the revised October rate of 868,000 and 26.8% higher than the October 2011 rate of 709,000.
Single-family housing starts fell to an annualized rate of 565,000 in November, down 4.1% from the revised October rate of 589,000.
Permits for new single-family homes fell 0.2% in November, to an adjusted annual rate of 565,000, from 566,000 in October.
The National Association of Homebuilders (NAHB) yesterday reported a second consecutive six-year high in its builder confidence index. But despite improving confidence in the homebuilding sector, new construction of single-family homes remains historically low and far below the peak of about 2.3 million new housing starts in 2006.
Paul Ausick
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.