Housing starts fall in the US

Housing starts fall in the US

Housing starts fall in the US Construction of new homes south of the border fell in November, chiefly due to lower demand for single-family homes. The US Commerce Department says that there was a 1.6 per cent decline in housing starts following a 1.7 per cent rise in October. Single-family home construction was down 5.4 per cent while apartments were up 6.7 per cent. Building permit applications were also lower; down 5.2 per cent month-over-month. The US housing market has had a tough year and the industry is hoping that improving optimism in the economy together with continued low interest rates will help to create a steadier position in 2015.