Housing Starts Rose 3.3% in November, a 12.9% YOY Increase

Washington, DC, December 19, 2017- Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,297,000, 3.3% above the revised October estimate of 1,256,000 and 12.9% above the November 2016 rate of 1,149,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced. Single-family housing starts in November were at a rate of 930,000; this is 5.3% above the revised October figure of 883,000. The November rate for units in buildings with five units or more was 359,000.

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,298,000. This is 1.4% below the revised October rate of 1,316,000, but is 3.4% above the November 2016 rate of 1,255,000. Single-family authorizations in November were at a rate of 862,000; this is 1.4% above the revised October figure of 850,000. Authorizations of units in buildings with five units or more were at a rate of 395,000 in November.

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,116,000. This is 6.1% below the revised October estimate of 1,189,000 and is 7.2% below the November 2016 rate of 1,203,000. Single-family housing completions in November were at a rate of 752,000; this is 4.6% below the revised October rate of 788,000. The November rate for units in buildings with five units or more was 353,000.