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Construction began on new privately owned residential homes at a seasonally adjusted annual rate of 861,000 in November, down from a revised rate of 888,000 in October. The reading was below analysts' expectations of a drop to about an 872,000 annual pace.Starts dropped 5.2% in the Northeast, which was hit hard by Sandy on Oct. 29-30. Starts also fell 19.2% in the West, but were up 3.3% in the Midwest and 2.9% in the South.Compared with a year earlier, starts were down 25.5% in the Northeast, the only region to show a decrease.Building permits also dropped about 6.2% in the Northeast in November form the previous month. But permits were up in the rest of the country to an annual rate of 899,000, their highest level since July 2008.The annual rate of permits was a 26.8% increase from a year earlier. Despite last month's drop, housing starts also were well above last year's pace, up 21.6% compared with November 2011.Low mortgage rates and an improving jobs market has helped fuel the housing sector rebound. On Tuesday, the National Assn. of Home Builders and Wells Fargo Co. reported that <a href=http://www.downcoatmoncler.com/>Doudoune Moncler Femme Courte</a> builder confidence rose in December to its highest level in more than six years. data by ALSO: Follow Jim Puzzanghera on and .
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Gaza: Clinton works for truce 'in the days ahead'
Israeli air strikes shook the Gaza Strip and Palestinian rockets struck across the border as U.S. Secretary of State Hillary Clinton held talks in Jerusalem in the early hours of Wednesday, seeking a truce that can hold back Israel's ground troops.
Hamas, the Islamist movement controlling Gaza, and Egypt, whose new, Islamist government is trying to broker a truce, had floated hopes for a ceasefire by late Tuesday; but by the time Clinton met Israeli Prime Minister Benjamin Netanyahu it was clear there would be more argument, and more violence, first.
Hamas leaders in Cairo accused the Jewish state of failing to respond to proposals and said an announcement on holding fire would not come before daylight on Wednesday. Israel Radio quoted an Israeli official saying a truce was held up due to "a last-minute delay in the understandings between Hamas and Israel".
Who is Hamas? 5 questions about the Palestinian militant group.
An initial halt to attacks may, however, not see the sides stand their forces down from battle stations immediately; Clinton, who flies to Cairo to see Egyptian President Mohamed Mursi later on Wednesday, spoke of a deal "in the days ahead".
As she arrived in Israel after nightfall, Israel was stepping up its bombardment. Artillery shells and missiles fired from naval gunboats offshore slammed into the territory and air strikes came at a frequency of about one every 10 minutes.
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