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U.S. Single-Family Housing Starts Rise to Highest in a Decade
Groundbreaking on single-family homes proceeded in November at the strongest pace in a decade, driving U.S. housing starts to a faster-than-estimated rate, government figures showed Tuesday. • Residential starts rose 3.3% to 1.3m annualized rate (est. 1.25m) after 1.26m pace in prior month (revised from 1.29m). • Single-family starts jumped 5.3% to 930,000, highest since Sept. 2007; South and West regions also were 10-year highs. • Permits, a proxy for future construction of all types of homes, fell 1.4% to 1.3m rate (est. 1.27m) from 1.32m pace; single-family permits in U.S. and South both highest since Aug. ... (full story)