The US authorized 1.64 million private housing permits in November, up by 8.5pc compared with 1.51 million in the same month last year, according to US Census Bureau data. Permits for single-family units grew by 1.3pc against October to 1.14 million units while multi-unit permits accounted for 441,000 units in November.
Construction of 1.54 million housing units began last month, up 12.8pc from 1.37 million in November 2019. Single-unit houses accounted for 1.18 million, while multi-unit construction stood at 352,000 units in November.
Meanwhile, construction of 1.16 million residential units was completed in November, up 4.8pc from 1.22 million units a year ago. Of these, 874,000 units were single-family ones, while 280,000 multi-unit buildings were completed last month.