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Multifamily construction led a November leap in housing starts

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Construction 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.

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