Building permits rise 6.2% in November, despite pandemic

CHARLOTTE, N.C. (AP) - The number of newly issued permits to build fresh housing rose 6.2% in November on a seasonally adjusted basis.

Housing starts rose 1.2%, and are 12.8% higher than a year ago, the Commerce Department reported Thursday, to an annualized rate of 1.547 million. That’s a bit slower than October figures, when housing starts increased 4.7%.

Building permits, a good barometer of future activity, rose to 1.64 million annualized units. he figure remains up 8.5% 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.