Housing starts rose in November

December 19th, 2013

New residential construction and permits increased in November.

New residential construction inclined in November, according to new data from the U.S. Census Bureau and Department of Housing and Urban Development.

On a month-over-month basis, privately owned housing starts pulled ahead 22.7 percent to a seasonally adjusted annual rate of 1,091,000 in November, up from a revised estimate of 889,000 for October. Compared to November 2012, starts increased 29.6 percent from 842,000.

Housing starts for the single-family market rose 20.8 percent month over month to a rate of 727,000 in November. In October, single-family starts had a revised estimate of 602,000. Additionally, a rate of 354,000 was seen for units in buildings with five or more units.

Growth for permits
Authorizations for privately owned housing units went up to a seasonally adjusted annual rate of 1,007,000, representing a 7.9 percent gain year over year compared to an estimate of 933,000 for November 2012. On a month-to-month basis, there was a decline of 3.1 percent, falling from October’s revised rate of 1,039,000.

Authorizations in the single-family market went up 2.1 percent month over month while permits for units in buildings with five or more units had a rate of 346,000.