Building Permits Fell Over 31% Since Last November

Construction of new homes and apartments increased by 6.7% in November to a seasonally adjusted annual rate of 1.588 million units, while applications for permits to build new homes fell for a 10th consecutive month, according to data from The U.S. Census Bureau.

BUILDING PERMITS

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,506,000. This is 3.0 percent below the revised October rate of 1,553,000 and is 31.3 percent  below the November 2005 estimate of 2,191,000.

Single-family authorizations in November were at a rate of 1,144,000; this is 3.1 percent below the October figure of 1,181,000. Authorizations of units in buildings with five units or more were at a rate of 299,000 in November.

HOUSING STARTS

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,588,000. This is 6.7 percent above the revised October estimate of 1,488,000, but is 25.5 percent below the November 2005 rate of 2,131,000.

Single-family housing starts in November were at a rate of 1,281,000; this is 8.1 percent above the October figure of 1,185,000. The November rate for units in buildings with five units or more was 277,000.

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,915,000. This is 0.2 percent below the revised October estimate of 1,919,000, but is 0.3 percent above the November 2005 rate of 1,909,000.

Source: http://www.census.gov/const/www/newresconstindex.html

 

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