By Ovunc Kutlu
ANKARA (AA) - Housing starts in the US increased in November, recovering from a six-month low recorded in October, according to a report Thursday by the Census Bureau and the Department of Housing and Urban Development.
The figure, which measures the change in the number of new residential buildings beginning construction, came in at around 1.68 million, rising 160,000, or 11.8%, from the previous month, and reaching the highest level since March.
The market expected 1.57 million. The October figure was revised to 1.5 million from 1.52 million.
Annually, the leading indicator of the housing industry represented an 8.3% increase from the November 2020 figure of 1.55 million.
Building permits, a key indicator for demand in the market, increased 60,000, or 3.6%, to 1.71 million in November.
While the market estimate was 1.66 million, the October figure was unrevised at 1.65 million.
Annually, it represented a 0.9% gain from the November 2020 figure of almost 1.7 million.