Posted To: MND NewsWire

The numbers for November residential construction permits and housing starts came in higher than expected , marking the second straight month of increases and putting the rate for both well ahead of last year. Housing completions were down significantly but still maintained a year-over-year edge. The Census Bureau and the Department of Housing and Urban Development said building permits nationwide were at a seasonally adjusted annual rate of 1,482,000 during the month, up 1.4 percent from a slightly revised October rate of 1,461,000. Construction authorizations are now up 11.1 percent from the November 2018 rate of 1,334,000. The permit results defied expectations that they would decline after their strong showing in October when they posted a 5.0 percent gain. The consensus of analysts polled…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily