Housing Starts Fell 18.7% in October

Washington, DC, December 16, 2016—Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, according to the Commerce Department.

This is 18.7% below the revised October estimate of 1,340,000 and 6.9% below the November 2015 rate of 1,171,000.

Single-family housing starts in November were at a rate of 828,000; this is 4.1% below the revised October figure of 863,000. The November rate for units in buildings with five units or more was 259,000.

Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000, 4.7% below the revised October rate of 1,260,000 and is 6.6% below the November 2015 estimate of 1,286,000.

Single-family authorizations in November were at a rate of 778,000; this is 0.5% above the revised October figure of 774,000. Authorizations of units in buildings with five units or more were at a rate of 384,000 in November.

Privately owned housing completions in November were at a seasonally adjusted annual rate of 1,216,000. This is 15.4% above the revised October estimate of 1,054,000 and is 25.0% above the November 2015 rate of 973,000.

Single-family housing completions in November were at a rate of 774,000; this is 3.3% above the revised October rate of 749,000. The November rate for units in buildings with five units or more was 432,000.