New housing starts on private residences in November came in 3% below the October estimate of 888,000 starts, according to the U.S. Census Bureau and the Department of Housing and Urban Development. While the estimated percentage was not met, analysts with Econoday, an economy announcement company said, “the November slowdown is a minor pullback after strong gains the prior two months.” Econoday analysts suggested the recent decrease in housing starts can be blamed on slow construction in many areas. Building permits grew in November with 899,000 permits filed, a 3.6% increase from October and 26.8% from last year with 709,000 filings. There were 677,000 housing completions in November, 16.1% above the November 2011 rate of 583,000 housing completions. More here
