The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for November 2014. According to the data, building permits for privately-owned housing units in November were at a seasonally adjusted annual rate of 1,035,000, down 5.2 percent from the revised October rate of 1,092,000 and down 0.2 percent from the November 2013 rate of 1,037,000. Building permits for single-family housing in November were estimated at 639,000, down 1.2 percent from the revised October rate of 647,000. Building permits for units in buildings with five units or more in November were at a rate of 367,000.
Privately-owned housing starts were at an adjusted rate of 1,028,000 in November, down 1.6 percent from the previous month’s revised estimate of 1,045,000 and are down 7.0 percent from the November 2013 rate of 1,105,000. Single-family housing starts were at a rate of 677,000 in November, down 5.4 percent from the revised October rate of 716,000. Starts for units in buildings with five units or more had a November rate of 340,000.
As for housing completions, the November rate for privately-owned housing was at a seasonally adjusted annual estimate of 863,000, a decrease of 6.4 percent from the revised October rate of 922,000, but is up 4.5 percent from the November 2013 estimate of 826,000. Single-family housing completions were at a rate of 596,000 for November, putting it 2.9 percent below the revised October rate of 614,000. The housing completion rate for units in buildings with five units or more was at 256,000 in November.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for November 2014.