US new residential building activity likely to rebound in November

US new housing starts are expected to be 11,30,000 in November as per the consensus expectations, housing starts change is expected to be 6.6% month on month basis, rising from that of its previous value.

Building permits are expected to slightly drop as per the market consensus to 1150 in November, while the percentage change in the building permits is likely to record at -1.0%.

"Both single and multifamily building activity likely quickened during the reference period. Single-family starts are expected to rise by 1.9% to 740,000, returning to September's level... the number of multifamily units started likely remained on a saw-toothed path, rising by 13.7% to 390,000", says Societe Generale in a research note.