Multifamily construction led a November leap in housing starts
BPC Staff Dec 16, 2015 | 5:08 pm
<1 min read time
72 wordsAll Latest News, Real Estate and DevelopmentConstruction of multifamily housing led a 10.5 percent increase in residential construction in November to a seasonally adjusted annual rate of 1.173 million units, the U.S. Commerce Department said today, MarketWatch reported.Multifamily construction jumped 18.1 percent, while there was a 7.6 percent gain in single-family houses. Housing permits, which signal future construction activity, jumped 11 percent to a seasonally adjusted annual pace of 1.289 million units, the highest in five months.