Housing Starts Rose 14.8% in November

Washington, DC, December 19, 2023-Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,560,000, 14.8% above the revised October estimate of 1,359,000 and 9.3% above the November 2022 rate of 1,427,000, according to the U.S. Census Bureau.

Single‐family housing starts in November were at a rate of 1,143,000; this is 18.0% above the revised October figure of 969,000. The November rate for units in buildings with five units or more was 404,000.

Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,460,000. This is 2.5% below the revised October rate of 1,498,000 but is 4.1% above the November 2022 rate of 1,402,000. Single‐family authorizations in November were at a rate of 976,000; this is 0.7% above the revised October figure of 969,000. Authorizations of units in buildings with five units or more were at a rate of 435,000 in November.

Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,447,000. This is 5.0% above the revised October estimate of 1,378,000, but is 6.2% below the November 2022 rate of 1,543,000. Single‐family housing completions in November were at a rate of 960,000; this is 3.2% below the revised October rate of 992,000. The November rate for units in buildings with five units or more was 472,000.