Homebuilders are ramping up new-home construction at the fastest pace in more than five years, the Commerce Department reported Wednesday.
Construction of single-family homes and apartments in November rose to a seasonally adjusted annual rate of 1.09 million, a 23 percent increase over October’s pace. It marks the fastest pace since February 2008. Housing inventories remain tight, with inventories of homes under construction hovering at a four-and-a-half-year low. See Housing Now 
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