According to data released Tuesday by the US Census Bureau and the US Department of Housing and Urban Development, housing units authorized by building permits in November were at an annual rate of 681,000--5.7 percent above the October rate and 20.7 percent higher than building permits authorized in November 2010. Building permits in October had slipped 0.3 percent from September.
Housing starts also registered major gains in November, increasing 9.3 percent from October to a 685,000 annual rate. Housing starts also climbed 24.3 percent over the November 2010 rate. The November increase follows a 10.9 percent surge from September to October.
Meanwhile, housing completions in November were at an annual rate of 542,000, representing a 5.6 percent drop from October and 1.6 percent below the November 2010 rate. Housing completions fell 6.7 percent from September to October as well.