News Column

Housing Starts Soared in November

December 18, 2013

UPI Business News

construction workers
Construction began on more than 1 million houses in November (file photo)

Permits issued for residential housing declined in November, while housing construction starts soared, the U.S. Commerce Department said Wednesday.

While permits issued slipped 3.1 percent from October to a seasonally adjusted annual rate of 1,007,000, housing starts jumped 22.7 percent to an adjusted annual rate of 1,091,000.

From a year earlier, permits issued were up 7.9 percent, while construction starts were up 29.6 percent.

For housing starts, the 22.7 percent climb was the biggest one-month jump since January 1990.

Housing completions dropped marginally, falling 0.1 percent to an adjusted annual rate of 823,000.

Project completions are 21.6 percent higher than November 2012, the department said.

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Original headline: Housing starts soared in November



Source: Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.