The Census Bureau reports that housing starts increased at a seasonally adjusted annual rate of 861k in November. This is 3% below October’s revised reading of 888k, and 21.6% above the November 2011 rate of 708k.
Single-family housing starts in November were at a SAAR of 565k. This is 4.1% below the revised October figure of 589k.
Last month’s decline ends a 3 month streak of consecutive gains that saw housing starts rise from SAAR of 733k to 888k.