U.S. Housing Starts, Building Permits Dip in November

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November housing starts and building permits both fell in the U.S., as groundbreaking also declined 1.6 percent to a seasonally adjusted annual 1.028 million-unit pace, the Commerce Department report this week. November's starts were revised up to a 1.045 million-unit rate.

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 Competitions

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.