November housing starts zoom to highest pace since Feb. '84

Single-family housing starts rose to a record high in November, the Commerce Department reported.

Total housing starts - consisting of single and multifamily homes - unexpectedly jumped 4.5 percent to a seasonally adjusted annual rate of 2.07 million units in the month from an upwardly revised 1.98 million units, the report indicated. That was the highest pace since February 1984.