December 19th, 2013
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.