If you’ve been in the housing industry for even a short while, you’ve probably heard of John Burns.
Housing Market Up, Manufacturing Down
U.S. housing starts rebounded from a seven-month low and permits jumped to a five-month high, according to Reuters.
Groundbreaking in November increased 10.5 percent, to a seasonally adjusted annual pace of 1.17 million units. Building permits rose 11 percent to a 1.29 million-unit rate.
However, the Fed said that industrial production dropped 0.6 percent in November. The decline is due to the unseasonably warm weather in the Midwest and East Coast, which led to a drop in demand for utilities.