The 2020 Mid-Year Economic Update_long

November Housing Starts Decrease 6.9% YOY

Privately owned housing starts down 18.7 percent compared with October.

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This is 18.7 percent below the revised October estimate of 1,340,000 and 6.9 percent 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 percent 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. This is 4.7 percent below the revised October rate of 1,260,000 and is 6.6 percent 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 percent 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 percent above the revised October estimate of 1,054,000 and is 25 percent 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 percent above the revised October rate of 749,000. The November rate for units in buildings with five units or more was 432,000.

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