New Housing Starts in U.S. Increase 6.9% in November

---

According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), new residential construction statistics for November 2010 were the following:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 530,000. This is 4.0 percent (±2.9%) below the revised October rate of 552,000 and is 14.7 percent (±1.7%) below the November 2009 estimate of 621,000.

Single-family authorizations in November were at a rate of 416,000; this is 3.0 percent (±1.0%) above the revised October figure of 404,000. Authorizations of units in buildings with five units or more were at a rate of 94,000 in November.

HOUSING STARTS

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 555,000. This is 3.9 percent (±12.0%) above the revised October estimate of 534,000, but is 5.8 percent (±12.0%)* below the November 2009 rate of 589,000.

Single-family housing starts in November were at a rate of 465,000; this is 6.9 percent (±13.5%) above the revised October figure of 435,000. The November rate for units in buildings with five units or more was 72,000.

HOUSING COMPLETIONS

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 513,000. This is 14.1 percent (±10.9%) below the revised October estimate of 597,000 and is 39.6 percent (±8.6%) below the November 2009 rate of 850,000.

Single-family housing completions in November were at a rate of 436,000; this is 10.1 percent (±11.6%) below the revised October rate of 485,000. The November rate for units in buildings with five units or more was 73,000.

 

---