RWR - Housing Construction Performed Well In November

• Total housing starts rose to a 1.679 million annual rate in November from a 1.502 million pace in October, an 11.8 percent increase.
• Starts of multifamily structures with five or more units increased 12.1 percent to 491,000 and are up a robust 39.1 percent over the past year while starts for the two- to four-family-unit segment were up 50.0 percent at a 15,000-unit pace versus 10,000 in October.
• The surge in housing demand that sent lumber prices soaring to a peak of around $1,686 per 1,000 board feet in May had largely reversed course by September, hitting a low of around $450 in mid-month.

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