WASHINGTON, DC — The U.S. Department of Commerce has reported that housing starts rose 8.2% in November to a seasonally adjusted annual rate of 1.65 million units. This is the largest single month gain since January.

November’s major increase came after housing starts had dropped in October by a revised 4%, a larger decline than was earlier reported.

Low home mortgage rates have contributed to the solid housing market despite the slowdown in the overall U.S. economy.

Publication date: 12/17/2001