Thursday, December 16, 2010

Housing starts rose 3.9% in November

In light of the new mortgage rates these starts can change real fast.  I wonder what December will bring.
tarts rose to a seasonally adjusted rate of 555,000 units, up from a revised 534,000 units for October but still 5.8% lower than a year earlier. Analysts polled by both Reuters and Bloomberg expected housing starts to come in at 550,000 for last month.
Permits for new construction, a leading indicator of future building activity, decreased to 530,000 in November, which is 4% lower than the revised October figure of 552,000 and 14.7% below the year ago estimate of 621,000.
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