By Ruth Mantell
WASHINGTON (MarketWatch) -- Construction of new U.S. homes rose 3.9% to a seasonally adjusted annualized rate of 555,000 in November, the Commerce Department reported Thursday. The November rate matched forecasts from analysts polled by MarketWatch. Housing starts for October were revised higher to a rate of 534,000 from a prior estimate of 519,000. Permits for new construction fell 4% to an annualized rate of 530,000 in November, reaching the lowest level since April of 2009. With persistent weakness in the housing market, homebuilders have been cautious.
