NOVEMBER HOUSING STARTS SIGNAL HOUSING MARKET'S CONTINUED GROWTH

WASHINGTON -- Housing Secretary Andrew Cuomo issued the following statement in response to today's U.S. Census Bureau report regarding November housing starts.

The report said November housing starts were up one percent in November to 1,531,000 units on a seasonally adjusted annual basis. Single family starts for the month were up 2.5 percent to 1,166,000 units. Units in buildings with five or more units increased to 328,000 during November, up from 324,000 units for the month of October.

"This is more good news for homebuyers. The strong housing industry reflects the continued strength of the American economy and is a tribute to the Clinton Administration's economic policies. This is the first time since 1988 that housing starts exceeded 1.5 million on a seasonally adjusted basis for three consecutive months."