New data from the U.S. Census shows that nationally, new housing starts climbed 29.6 percent in November compared with last year, a significant jump that exceeded analysts’ predictions.
November housing starts rose to a seasonally adjusted annual rate of 1,091,000, up 22.7 percent above the revised October 2013 estimate of 889,000.
Much of the increase was due to a boost in single-family starts, which rose from an annual rate of 576,000 in November 2012 to 727,000 in November 2013, an increase of 26.2 percent.
Permits also increased, rising to a seasonally adjusted annual rate of 1,039,000, 7.9 percent above the November 2012 estimate of 933,000.
In the Northeast, new housing starts rose from a seasonally adjusted annual rate of 68,000 in November 2012 to 87,000 in November 2013, an increase of 27.9 percent. Single-family starts rose from a seasonally adjusted annual rate of 49,000 in November 2012 to 58,000 in November 2013, an increase of 18.4 percent.
The Census data reinforces reports of renewed confidence in the construction sector. Earlier this week, a report from the National Association of Home Builders reported its builder confidence index rising from 54 in November to 58 in December. An index number above 50 indicates that more builders view market conditions as good than poor.





