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The U.S. Commerce Department released the housing market data on Tuesday. Housing starts in the U.S. declined 1.6% to 1.028 million annualized rate in November from a 1.045 million pace in October, beating expectations for a decrease to 1.025 million. October's figure was revised up from 1.009 million units.
Building permits in the U.S. decreased 5.2% to 1.035 million annualized rate in November from a 1.080 million pace in October, missing expectations for a fall to 1.050 million units.
Starts of single-family homes fell 5.4% in November. Building permits for single-family homes decreased 1.2% in November.
Starts of multifamily buildings rose 6.7% in November. Permits for multi-family housing dropped 11%.
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