U.S. starts, permits decline in November

U.S. housing starts fell by 0.5 percent last month to an annualized rate of 1.43 million units, according to the U.S. Commerce Department. Single-family starts fell to a rate of 828,000, their lowest since May 2020. October starts were revised to 1.434 million units, up from the initial estimate of 1.425 million. Residential permits in November declined by 11.2 percent to an annualized pace of 1.342 million. Single-family permits were down by 7.1 percent.