The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for November 2015. According to the data, building permits for privately-owned housing units in November were at a seasonally adjusted annual rate of 1,289,000, up 11.0 percent from the revised October rate of 1,161,000 and up a significant 19.5 percent from the November 2014 rate of 1,079,000. Building permits for single-family housing in November were estimated at 723,000, up 1.1 percent from the revised October rate of 715,000. Building permits for units in buildings with five units or more in November were at a rate of 539,000.
Privately-owned housing starts were at an adjusted rate of 1,173,000 in November, up 10.5 percent from the previous month’s revised estimate of 1,062,000 and up 16.5 percent from the November 2014 rate of 1,007,000. Single-family housing starts were at a rate of 768,000 in November, up 7.6 percent from the revised October rate of 714,000. Starts for units in buildings with five units or more had a November rate of 398,000.
As for housing completions, the November rate for privately-owned housing was at a seasonally adjusted annual estimate of 947,000, a decrease of 3.2 percent from the revised October rate of 978,000, but is up 9.2 percent from the November 2014 estimate of 867,000. Single-family housing completions were at a rate of 632,000 for November, putting it 0.3 percent above the revised October rate of 630,000. The housing completion rate for units in buildings with five units or more was at 306,000 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 2015.