Housing starts up 22.7% to 1.09M rate in November

http://www.marketwatch.com/story/housing-starts-up-227-to-109m-rate-in-november-2013-12-18

Construction on new U.S. homes soared 22.7% in November to a seasonally adjusted annual rate of 1.09 million, the highest rate since February 2008, with surges for single-family homes and apartments, the government reported Wednesday. Economists polled by MarketWatch had expected overall housing starts in November to hit a rate of 963,000. Starts for single-family homes rose 20.8% in November to a rate of 727,000, the highest rate since March 2008, according to the U.S. Department of Commerce. Starts in buildings with at least five units rose 26% to a rate of 354,000. The monthly home-construction data are volatile, and could see revisions. Still, overall starts in November were up 29.6% from the same period in the prior year, pointing to the housing market's continuing recovery. Also Wednesday, the government reported that building permits, a sign of future demand, fell 3.1% in November to an annual rate of 1.01 million. Permits for single-family homes rose 2.1% to a rate of 634,000, the highest rate since April 2008. Meanwhile, permits in buildings with at least five units dropped 11.5%. The government also reported data on Wednesday that had been delayed by the government shutdown. Overall housing starts in October hit a rate of 889,000, while September's starts reached a rate of 873,000