The number of newly issued permits to build fresh housing grew by 6.2 percent in November on a seasonally adjusted basis. Housing starts grew by 1.2 percent, and are 12.8 percent higher than a year ago, the Commerce Department reported Thursday, to an annualized rate of 1.547 million. Building permits totaled 1.64 million annualized units. The figure remains up 8.5 percent from a year earlier, as the housing market remains one the strongest parts of the U.S. economy despite the widespread pandemic and increased lockdowns.-AP

Source: The Standard December 17, 2020 13:52 UTC