U.S. housing starts rose last month to the highest level in more than a year, driven by gains in single-family home building in the South and West.
Housing starts rose 3.3% in November from the prior month to a seasonally adjusted annual rate of 1.297 million, the Commerce Department said Tuesday. Residential building permits, which can signal how much construction is in the pipeline, fell 1.4% to an annual pace of 1.298 million last month.
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