New Homes Construction Rises 3.9%

Well, it's something, if not much: Builders began construction on new homes at higher rate in November. So-called housing starts increased 3.9 percent last month, according to the National Association of Home Builders, the first time the index has shown an uptick since August. Builders such as Toll Brothers are anticipating a modest recovery in the housing market in 2011, though the large shadow inventory of unsold existing homes makes in unlikely that the recovery will gain much steam in the next 12 months.