Single-Family Starts Hit Post-Recession High in November


Single-family housing starts jumped 21% in November as builders broke ground on the highest number of new homes since March 2008.

The Census Bureau reported Wednesday morning that single-family starts rose to a 727,000 seasonally adjusted annual rate in November from a 602,000 rate in October. Overall, single-family starts are up 26% from a year ago.

The new report also shows that single-family starts rose 4% from September to October. So the government shutdown appears to have had little impact on construction activity.

The higher-than-expected starts number for November follows on the heels of a recent government report on new home sales, which jumped 25% in October from the prior month.

Single-family starts jumped 26% in the Midwest from October to November, 24.5% in the South, 28% in West, but fell 17% in the Northeast.

The Census Bureau report also shows multifamily starts jumped 26% in November to an eight-month high.

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