U.S. housing starts slip, but permits near six-and-a-half-year high

Nov 19 (Reuters) – U.S. housing starts unexpectedly fell in October, but a jump in permits to near a 6-1/2-year high suggested the housing market was steadily regaining strength.

A worker carries a plank at the construction site of a new house in Alexandria

Groundbreaking slipped 2.8 percent to a seasonally adjusted annual 1.009 million-unit pace, the Commerce Department said on Wednesday. September’s starts were revised up to a 1.038 million-unit rate.

Economists polled by Reuters had forecast starts rising to a 1.025-million unit rate from September’s previously reported 1.017-million unit pace.  Read more

Categories: Economy, United States

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