Housing Starts Inched Down 0.5% in November

Washington, DC, December 20, 2022-Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,427,000, 0.5% below the revised October estimate of 1,434,000 and 16.4% below the November 2021 rate of 1,706,000, according to the U.S. Census Bureau.

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 584,000.

Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,342,000. This is 11.2% below the revised October rate of 1,512,000 and is 22.4% below the November 2021 rate of 1,729,000. Single‐family authorizations in November were at a rate of 781,000; this is 7.1% below the revised October figure of 841,000. Authorizations of units in buildings with five units or more were at a rate of 509,000 in November.

Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,490,000. This is 10.8% above the revised October estimate of 1,345,000 and is 6.0% above the November 2021 rate of 1,406,000. Single‐family housing completions in November were at a rate of 1,047,000; this is 9.5% above the revised October rate of 956,000. The November rate for units in buildings with five units or more was 430,000.