The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for November 2013. According to the data, building permits for privately-owned housing units in November were at a seasonally adjusted annual rate of 1,007,000, down 3.1 percent from the revised October rate of 1,039,000. However, the rate is up 7.9 percent from the November 2012 rate of 933,000. Building permits for single-family housing in November were estimated at 634,000, up 2.1 percent from the revised October rate of 621,000. Building permits for units in buildings with five units or more in November were at a rate of 346,000.
In November, privately-owned housing starts were at an adjusted rate of 1,091,000, up 22.7 percent from October’s revised estimate of 889,000 and up 29.6 percent from the November 2012 rate of 842,000. Single-family housing starts were at a rate of 727,000 in November, up 20.8 percent from the revised October rate of 602,000. For units in buildings with five units or more, the November rate was 354,000.
As for housing completions, the November rate for privately-owned housing was at a seasonally adjusted annual estimate of 823,000, slightly falling 0.1 percent from October’s revised rate of 824,000, but up 21.6 percent from the November 2012 estimate of 677,000. Single-family housing completions were at a rate of 596,000 for November, putting it 3.2 percent below October’s revised rate of 616,000. The housing completion rate for units in buildings with five units or more was at 221,000 in November.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release.