New-Home Production Rises 9.3 Percent in November

Housing Starts and Building Permits for November 2011
	DATE	CURRENT		LAST	% Change	Download Starts and Permits
Starts	12/20/2011	685Th		627Th	9.3%
Permits	12/20/2011	681Th		644Th	5.7%

 Production of new single-family homes and apartments rose 9.3 percent to a seasonally adjusted annual rate of 685,000 units in November, according to figures released by the U.S. Commerce Department today. This marks the fastest pace of housing starts since October of 2008.

“While we still have a long way to go back to normal, the latest numbers are one more indication that housing is slowly turning the corner,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “In scattered markets across the country, buyers who have long sat on the sidelines are starting to take advantage of today’s very attractive prices and interest rates, while others are making the move to a new apartment. This nascent trend would be stronger if not for the very restrictive lending environment that continues for both building and buying new homes.” Full story

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