According to Commerce Department figures, building permits in November 2012 were at a seasonally adjusted annual rate of 899,000, up 3.6 percent from the revised October rate and up 26.8 percent from November 2011. Housing starts in November 2012 were at a seasonally adjusted annual rate of 861,000, down 3.0 percent from the revised October estimate but up 21.6 percent from November 2011.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2012:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 899,000. This is 3.6 percent (±1.1%) above the revised October rate of 868,000 and is 26.8 percent (±1.7%) above the November 2011 estimate of 709,000.
Single-family authorizations in November were at a rate of 565,000; this is 0.2 percent (±0.8%)* below the revised October figure of 566,000. Authorizations of units in buildings with five units or more were at a rate of 307,000 in November.
HOUSING STARTS
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 861,000. This is 3.0 percent (±14.3%)* below the revised October estimate of 888,000, but is 21.6 percent (±12.5%) above the November 2011 rate of 708,000.
Single-family housing starts in November were at a rate of 565,000; this is 4.1 percent (±13.3%)* below the revised October figure of 589,000. The November rate for units in buildings with five units or more was 285,000.
HOUSING COMPLETIONS
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 677,000. This is 9.7 percent (±13.7%)* below the revised October estimate of 750,000, but is 16.1 percent (±9.5%) above the November 2011 rate of 583,000.
Single-family housing completions in November were at a rate of 520,000; this is 2.4 percent (±11.7%)* below the revised October rate of 533,000. The November rate for units in buildings with five units or more was 150,000.
