Despite weakening housing permits and completed construction, new construction rose last month. In the West, new construction soared as completed construction plummeted.
In permit-issuing places, there were 96,500 privately owned single-family housing units that were authorized by building permits during November.
Last month’s activity brought the number of building permits issued from Jan. 1 through Nov. 30 of this year to 1.1673 million.
Source: Mortgage Daily