Housing Starts Up in November

Dec 19, 2017

Confidence among builders in the single-family 55+ housing market is holding strong in the third quarter

Single-family housing starts in November were at a rate of 930,000, a 5.3 percent increase above the revised October figure of 883,000, according to new data from the Census Bureau and Department of Housing and Urban Development. The November rate for units in buildings with five units or more was 359,000. Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,297,000, which is 3.3 percent above the revised October estimate of 1,256,000 and 12.9 percent above the November 2016 rate of 1,149,000.

Single-family authorizations in November were at a rate of 862,000, up 1.4 percent from the revised October figure of 850,000. Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,298,000, which is 1.4 percent below the revised October rate of 1,316,000 but 3.4 percent higher than the November 2016 rate of 1,255,000.

Single-family housing completions in November were at a rate of 752,000, a 4.6 percent drop from the revised October rate of 788,000. Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,116,000, down 6.1 percent from the revised October estimate of 1,189,000 and 7.2 percent below the November 2016 rate of 1,203,000.

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Phil Hall

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Dec 19, 2017

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