Starts of privately owned housing in the U.S. were at a seasonally adjusted annual rate of 1.588 million in November, 6.7% higher than the revised October rate of 1.488 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development jointly reported on Dec. 19. This November's rate was 25.5% below the November 2005 rate of 2.131 million, however.
Building permits, an indicator of future housing construction, were at a seasonally adjusted annual rate of 1.506 million last month, 3% below the revised October rate of 1.553 million. This November's building permit rate was 31.3% below the November 2005 rate of 2.191 million.
