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Permits Show Market Strong, Even As Homebuilding Down

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On Friday a report released by the Commerce Department showed permits for the future construction of single-family homes had risen to a nine-year high in November. This spike in the biggest segment of the market suggests that housing remains on solid ground, even as homebuilding fell more than expected during the same month, tumbling from a nine-year high as construction activity declined. The slow-down in building is just the latest sign of slower economic growth in the fourth quarter of 2016, as groundbreaking on new projects dropped 18.7 percent to an annual rate of 1.09 million units, with last month's percentage decline the largest in nearly two years.

Added on the 16/12/2016 14:28:54 - Copyright : Wochit

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