Dec
18
U.S. Home Starts Slumped in November After Outsize Advance
ByNew-home construction in the U.S. fell more than forecast in November after surging a month earlier to a nine-year high, indicating fitful progress in residential real estate.
Residential starts slumped 18.7 percent to a 1.09 million annualized rate last month after rising to a 1.34 million pace, Commerce Department data showed Friday. The median projection in a Bloomberg survey called for a 1.23 million pace in November. Ground-breaking jumped 27.4 percent in October, the most since July 1982. Permits, a proxy for future construction, also fell last month on fewer applications to build apartments…
U.S. Home Starts Slumped in November After Outsize Advance
