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Saturday, December 9, 2023
HomeNewsEconomyNew Home Construction (Housing Starts), Permits Easily Beat Expectations

New Home Construction (Housing Starts), Permits Easily Beat Expectations


Contractor working in new home construction. (PHOTO: REUTERS)

The Commerce Department reported on Wednesday starts of new home construction gained 10.5% in November to an annualized rate of 1.73 million units, easily beating expectations for 1.14 million units. Building permits for new homes surged 11% to an annualized rate of 1.29 million units, also beating the median forecast calling for 1.15 million units.

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Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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