US Housing Starts and Building Permits Increase

Housing starts and building permits in the United States increased during November, signaling the strength of the housing market, data by the US Department of Commerce showed on Thursday.

Housing starts increased by 1.2% to a seasonally adjusted annual rate of 1.547 million units in November.

On an annual basis, housing starts increased by 12.8% last month.

Meanwhile, building permits for future homebuilding grew by 6.2% to a rate of 1.639 million units.

Single-family homebuilding leveled up by 0.4% to a seasonally adjusted annual rate of 1.186 million units, registering its highest level since April 2007.