Building permits rise 6.2% in November, despite pandemic

AP Business

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.

Building permits totaled 1.64 million annualized units. The 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.

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