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Single-family starts, permits rise

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The rate of single-family housing starts and building permits authorized rose on a monthly and year-over-year basis in November, the U.S. Census Bureau and U.S. Department of Housing and Urban Development reported today. Single-family permit activity was up 12.1 percent on a seasonally adjusted annual basis from November 2008 to November 2009, to 473,000, the agencies reported, with single-family starts rising an estimated 5.5 percent, to 482,000. The seasonally adjusted annual rate is a projection of a monthly total over a 12-month period, adjusted to account for typical seasonal fluctuations in construction activity. Single-family permits were up 5.3 percent compared to the October rate and single-family starts were up 2.1 percent on a monthly basis. Meanwhile, the rate of total building-permit authorizations fell 7.3 percent year-over-year in November while rising 6 percent compared to October. And the rate of total housing starts fell 12.4 percent year-over-year in Novem...