Housing Starts Rebound in November

Housing starts rose 8.9% in November to a 574,000 seasonally adjusted annual pace, the U.S. Commerce Department announced Wednesday. A Bloomberg News economists' survey had expected housing starts to total a slightly higher 575,000 annualized rate for the month. They totaled a revised 527,000 annual pace in October, and a 586,000 annual pace in September. New home construction hit a cycle low of 479,000 in April.%%DynaPub-Enhancement class="enhancement contentType-HTML Content fragmentId-1 payloadId-61603 alignment-right size-small"%%