Residential permits and starts surge in November
Multi-family permits advance 11 percent; starts rise 10.5 percent.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2015:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,289,000. This is 11.0 percent (±1.6%) above the revised October rate of 1,161,000 and is 19.5 percent (±2.0%) above the November 2014 estimate of 1,079,000.
Single-family authorizations in November were at a rate of 723,000; this is 1.1 percent (±0.9%) above the revised October figure of 715,000. Authorizations of units in buildings with five units or more were at a rate of 539,000 in November.
HOUSING STARTS
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,173,000. This is 10.5 percent (±8.6%) above the revised October estimate of 1,062,000 and is 16.5 percent (±10.3%) above the November 2014 rate of 1,007,000.
Single-family housing starts in November were at a rate of 768,000; this is 7.6 percent (±9.6%)* above the revised October figure of 714,000. The November rate for units in buildings with five units or more was 398,000.
HOUSING COMPLETIONS
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 947,000. This is 3.2 percent (±8.7%)* below the revised October estimate of 978,000, but is 9.2 percent (±9.9%)* above the November 2014 rate of 867,000.
Single-family housing completions in November were at a rate of 632,000; this is 0.3 percent (±9.7%)* above the revised October rate of 630,000. The November rate for units in buildings with five units or more was 306,000.
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