By Robert Dietz | NAHB
Total housing starts increased in November, with strong readings from the single-family sector. Total starts increased 3.3% to a 1.3 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The headline number was supported by strong numbers from single-family home building.
Single-family starts increased for the month, rising 5.3% to a 930,000 seasonally adjusted rate in November. This is the highest monthly annual rate since the Great Recession. Single-family starts are up almost 9% year-to-date compared to 2016 as limited existing inventory and solid builder confidence make for positive market conditions.