Housing Starts, Building Permits Fall Wednesday, December 19, 4:56 PM ET
New housing starts fell by 3% in November in part due to the effects of Hurricane Sandy, according to the Commerce Department. Construction began on new privately owned residential homes at a seasonally adjusted annual rate of 861,000 in November, down from a revised rate of 888,000 in October, below analyst expectations of a drop to about an annual pace of 872,000.
Building permits dropped by about 6.2% in the Northeast in November form the previous month. Permits were up in the rest of the country, however, to an annual rate of 899,000. The annual rate of permits was a 26.8% increase from the same period last year.
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