New Home Construction Jumps 18 Percent Amid Low Inventory

There was only 3.5 months of housing inventory in November, far lower than the usual five to six months’ worth of supply.

A for sale sign is posted in front of a home in San Anselmo, Calif., on March 22, 2023. Justin Sullivan/Getty Images

The construction of new single-family homes increased by double digits in November as a supply shortage continued to boost homebuilder interest in housing construction.

Single-family housing starts surged 18 percent in November compared to October, according to data from the U.S. Census Bureau.