Housing Starts Highest Since 2008

The Commerce Department reports that builders broke ground on new homes at a seasonally adjusted rate of 1.09 million units in November — 23 percent more than the previous month and roughly 30 percent more than a year ago. The pace of construction reached its highest point since February 2008, according to the data; while single-family housing starts, at 727,000, have not been so high since March 2008. Building permits — an indicator of future construction — were up as well, topping the 1 million mark. | Read More