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Home » November Housing Starts Up from October
construction of real house

November Housing Starts Up from October

By    MDM  Staff 
December 16, 2009
More about:  Building Materials/Construction Distribution,  Economic Trends
Year-over-year, November housing starts down 12.4%.
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Privately-owned housing starts in November were at a seasonally adjusted annual rate of 574,000, 8.9% above October, but 12.4% below November 2008, the Census Bureau and the Department of Housing and Urban Development announced.
 
Single-family starts were at a rate of 482,000, 2.1% above October. November rate for units in buildings with five units or more was 83,000.
 
Year-to-date, housing starts are down 40.3% overall. In the Northeast, starts are down 50.3%; the Midwest saw a decrease of 29.6%; in the South starts have fallen 40.4%, and in the West, housing starts are down 41.6%.
 
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 584,000. This is 6% above the revised October rate of 551,000, but 7.3% below the November 2008 estimate of 630,000.
 
Single-family authorizations in November were at a rate of 473,000; this is 5.3% above the revised October figure of 449,000. Authorizations of units in buildings with five units or more were at a rate of 86,000 in November.
 
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 810,000. This is 8.7% above October, but 25.3% below November 2008. Single-family housing completions in November were at a rate of 524,000; this is unchanged compared with October. The November rate for units in buildings with five units or more was 270,000.

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