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U.S. Housing Starts Rise More Than Forecast to Eight-Month High

  • Report reflected strong gains in one-family homes, apartments
  • One-family starts in South increased to highest since 2006
   

Photographer: Matthew Busch/Bloomberg

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U.S. home construction starts strengthened in November to the fastest pace in eight months, suggesting builders are making a bit more headway on backlogs even as supply and labor constraints linger.

Residential starts rose 11.8% last month to a 1.68 million annualized rate, according to government data released Thursday. The median estimate in a Bloomberg survey of economists called for a 3.1% gain in November from the prior month, and a 1.57 million pace.