Housing Starts Up Again

Housing Starts Rise 5.3% in November(December 21, 2005) --

Residential construction jumped 5.3 percent from October to November, according to the U.S. Commerce Department, while home-building permits climbed 2.5 percent over the same period. Year-over-year, starts and permits were up 17.5 percent and 3 percent, respectively.

Regionally, housing starts edged up 12.3 percent in the Midwest, 11.5 percent in the West, and 11 percent in the Northeast but slipped 1.3 percent in the South. David Seiders, chief economist for the National Association of Home Builders, was surprised by the gains, but he attributes them to builders constructing units that have been in the works for six months.

Source: Washington Post (12/21/05); Downey, Kirstin