Homebuyers have had it bad this year. Between mortgage rates that peaked at 8% in late October, high home prices, and extremely low levels of supply, it’s been exceedingly difficult and unaffordable for many people to break into the housing market. But there are small glimmers of hope going into 2024: For one, housing starts spiked in November to a six-month high.
New home starts jumped 14.8% last month from October’s revised estimate, and single-family housing starts increased 18% during the same period, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said on Tuesday.
