Homebuilding Permits Rise, Exceeding Forecasts

Homebuilding permits rose 3.6 percent in November to an annual rate of 899,000 units, the most since July 2008 and well above economists’ expectations of 875,000 units. The Commerce Department also reports that construction starts fell 3 percent to 861,000 units, the decline following three straight months of solid gains. In the 12 months through November, housing permits are up 26.8 percent and starts are up 21.6 percent. | Read More