Single-Family Housing Starts Rise in Line with Builder Confidence
Year-to-date, single-family housing starts are 8.7% above their level over the same period last year.
Nationwide housing starts rose 3.3% in November 2017 to a seasonally adjusted annual rate of 1.297 million units after a downwardly revised October reading, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. The reading is a post-recession high.
Single-family production rose 5.3% in November to a seasonally adjusted annual rate of 930,000, which also is the highest post-recession report. Year-to-date, single-family starts are 8.7% above their level over the same period last year. Meanwhile, multi-family starts fell 1.6% to 367,000 units after a strong October reading.