The Real Deal Miami

U.S. housing starts down in November

But year-over-year increases point to improving market

December 19, 2012 03:45PM

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U.S. builders broke ground on fewer houses in November, the Commerce Department said Wednesday. The news comes on the heels of October’s numbers, which were at a four year high. Privately owned housing starts in November were at a seasonally adjusted annual rate of 861,000, a three percent drop below the October estimate of 888,000, which was the highest since July 2008. But overall, the numbers point to an improving nationwide housing market, with starts up 21.6 percent from November 2011. [more]

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