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2011-12-20 07:43:01
Housing starts hit 1.5 year high in November

WASHINGTON  - Housing starts surged to a 1-1/2 year high in November and permits for future construction were the highest since March 2010 as demand for rental apartments rose, offering hope for the weak housing market.

The Commerce Department said on Tuesday housing starts jumped 9.3 percent to a seasonally adjusted annual rate of 685,000 units, the highest since April last year.

October's starts were revised down to a 627,000-unit pace from a previously reported 628,000 unit rate.

Economists polled had forecast housing starts rising to a 635,000-unit rate. Compared to November last year, residential construction was up 24.3 percent.

Provided by,

Doug Spiers / Associate Broker 

Global Choice Real Estate
1436 South Legend Hills Drive Suite 311
Clearfield, Utah 84015

Direct (801) 726-7173

Email: DougSpiers@aol.com 

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