"Strong Surge in US Housing Starts and Homebuilder Sentiment Amid Falling Mortgage Rates"

Single-family housing starts in the US reached a 1-1/2-year high in November, rising 18.0% and indicating potential momentum in the housing market due to declining mortgage rates and incentives from builders. Permits for future construction of single-family housing also increased to the highest level since May 2022. Economists predict that the housing market will help the US economy avoid a recession next year, as housing demand remains high and builders add more supply to meet that demand. Overall housing starts advanced 14.8%, while permits fell 2.5%.