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Has America's housing market hit bottom?
WASHINGTON ` U.S. housing starts and permits for future construction jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was starting to recover.
The Commerce Department said on Tuesday housing starts surged 9.3% to a seasonally adjusted annual rate of 685,000 units, the highest since April last year.
Economists polled by Reuters had forecast housing starts rising to a 635,000-unit rate. Compared to November last year, residential construction was up 24.3%.
Read the full article here.
WASHINGTON ` U.S. housing starts and permits for future construction jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was starting to recover.
The Commerce Department said on Tuesday housing starts surged 9.3% to a seasonally adjusted annual rate of 685,000 units, the highest since April last year.
Economists polled by Reuters had forecast housing starts rising to a 635,000-unit rate. Compared to November last year, residential construction was up 24.3%.
Read the full article here.