The US Census Bureau and the Department of Housing and Urban Development jointly announced today that privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000. This is 4.7 percent (±1.1 percent) below the revised October rate of 1,260,000 and is 6.6 percent (±2.6 percent) below the November 2015 estimate of 1,286,000.
Single-family authorizations in November were at a rate of 778,000; this is 0.5 percent (±1.4 percent) above the revised October figure of 774,000. Authorizations of units in buildings with five units or more were at a rate of 384,000 in November.
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000. This is 18.7 percent (±6.7 percent) below the revised October estimate of 1,340,000 and is 6.9 percent (±7.3 percent) below the November 2015 rate of 1,171,000.
Single-family housing starts in November were at a rate of 828,000; this is 4.1 percent (±7.5 percent) below the revised October figure of 863,000. The November rate for units in buildings with five units or more was 259,000.
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,216,000. This is 15.4 percent (±13.5 percent) above the revised October estimate of 1,054,000 and is 25.0 percent (±15.0 percent) above the November 2015 rate of 973,000.
Single-family housing completions in November were at a rate of 774,000; this is 3.3 percent (±8.3 percent) above the revised October rate of 749,000. The November rate for units in buildings with five units or more was 432,000.