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U.S. Housing Starts Rose For a Third-Straight Month in November

  • Single-family construction climbed to best level since 2007
  • Demand remains robust with mortgage rates at record lows
A contractor wearing a protective mask moves pieces of sheet rock while working at a home under construction.
A contractor wearing a protective mask moves pieces of sheet rock while working at a home under construction.Photographer: Angus Mordant/Bloomberg
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U.S. new home construction rose more than forecast to a nine-month high in November, highlighting the strength of a residential housing market that’s been supported by strong demand amid low interest rates.

Residential starts rose 1.2% to a 1.547 million annualized rate from an downwardly revised 1.528 million a month earlier, according to government report released Thursday. The median estimate in a Bloomberg survey of economists called for a 1.535 million pace.