US Housing Starts

Housing starts rose more strongly than expected over past three months to 1,091k in November, vs. consensus 955k, jumping 23% in November, largest gain since 1990. Single family starts rose 20.8 % and multi-family rose 26.8 %. “The Census Bureau did not suggest that any special factor was behind the large jump in November starts. Weather, which was unseasonably cold on a national average basis in November, was likely not the cause.”

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