Overview

• Housing starts in the US surged by 14.8% in November, reaching an annual rate of 1.56 million units, the highest level since May.
• Single-family homebuilding jumped 18.0% to a seasonally adjusted annual rate of 1.143 million units, the highest level since April 2022.
• Permits for future construction of single-family homes increased to the highest level since May 2022.
• Declining mortgage rates and incentives from builders are expected to draw potential buyers back into the housing market.
• The Federal Reserve's recent indication that interest rates have peaked and will come down next year is expected to further boost the housing market.