US housing starts, permits decline in November
The decrease was attributed to a sharp decrease in home building the South while construction of single family houses also slowed. Housing starts slumped 19.5% month over month in November in the South to post the biggest decline since June. Meanwhile, construction of single-family houses declined 5.4% to an annualized pace of 677,000 units in November from 716,000 in the previous month. However, construction of multi-family houses rose 6.7% to an annualized pace of 351,000 units in November when compared to an annualized rate of 329,000 units reported in October.
Meanwhile, building permits in the US declined 5.2% to an annual rate of 1.035 million in November from 1.092 million in the previous month.
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