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Home Building Permits Issued in US at 4-Year Highs in November

Home Building Permits Issued in US at 4-Year Highs in November


construction-worker-residential.jpg According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), permits for new home construction in the U.S. reached their highest level in nearly 4 years in November, despite housing starts dropped after three straight months of strong gains.
 
Building Permits
 
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 899,000. This is 3.6 percent (±1.1%) above the revised October rate of 868,000 and is 26.8 percent (±1.7%) above the November 2011 estimate of 709,000.
 
Single-family authorizations in November were at a rate of 565,000; this is 0.2 percent (±0.8%) below the revised October figure of 566,000. Authorizations of units in buildings with five units or more were at a rate of 307,000 in November.
 
Housing Starts
 
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 861,000. This is 3.0 percent (±14.3%) below the revised October estimate of 888,000, but is 21.6 percent (±12.5%) above the November 2011 rate of 708,000.
 
Single-family housing starts in November were at a rate of 565,000; this is 4.1 percent (±13.3%) below the revised October figure of 589,000. The November rate for units in buildings with five units or more was 285,000.
 
Housing Competitions
 
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 677,000. This is 9.7 percent (±13.7%) below the revised October estimate of 750,000, but is 16.1 percent (±9.5%) above the November 2011 rate of 583,000.
 
Single-family housing completions in November were at a rate of 520,000; this is 2.4 percent (±11.7%) below the revised October rate of 533,000. The November rate for units in buildings with five units or more was 150,000.
 
 
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