November Housing Starts, Multifamily Leads The Way

MLS Market Snapshot

The bright spot in November housing starts figures were the very volatile multifamily segment which  skyrocketed 67.3 percent to reach and annual pace of  92,000 . marking a drastic reversal of October’s decline.

According to the  Commerce Department s housing starts increased 8.9 percent to a seasonally adjusted annual rate of 574,000 units. That number, though below consensus expectations of 580,000 units, is none the less an improvement over the downwardly revised October number of 529,000 units.

November new building permits climbed 6  percent over October’s numbers  to 584,000 beating analyst’s expectations of 584000 units.

Here is the link to the Commerce Department Press Release

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