Paper Economy - A US Real Estate Bubble Blog

Wednesday, December 18, 2013

New Residential Construction Report: November 2013

Today’s New Residential Construction Report showed a decline to total permit activity while indicating notable improvement in start activity with starts jumping 22.7% from October.

Single family housing permits, the most leading of indicators, increased 2.1% from October to 634K single family units (SAAR), and  increased 10.5% above the level seen in November 2012 but still remained well below levels seen at the peak in September 2005.

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