U.S. housing construction dips in November
Privately-owned permits slide 5.2 percent; starts slip 1.6 percent for month to 1,035,000 annual rate.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2014:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,035,000. This is 5.2 percent (±1.4%) below the revised October rate of 1,092,000 and is 0.2 percent (±1.8%)* below the November 2013 estimate of 1,037,000.
Single-family authorizations in November were at a rate of 639,000; this is 1.2 percent (±1.4%)* below the revised October figure of 647,000. Authorizations of units in buildings with five units or more were at a rate of 367,000 in November.
HOUSING STARTS
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,028,000. This is 1.6 percent (±8.1%)* below the revised October estimate of 1,045,000 and is 7.0 percent (±10.2%)* below the November 2013 rate of 1,105,000.
Single-family housing starts in November were at a rate of 677,000; this is 5.4 percent (±8.1%)* below the revised October figure of 716,000. The November rate for units in buildings with five units or more was 340,000.
HOUSING COMPLETIONS
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 863,000. This is 6.4 percent (±8.3%)* below the revised October estimate of 922,000, but is 4.5 percent (±9.6%)* above the November 2013 rate of 826,000.
Single-family housing completions in November were at a rate of 596,000; this is 2.9 percent (±8.2%)* below the revised October rate of 614,000. The November rate for units in buildings with five units or more was 256,000.
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