Residential Building Permits Up 8.5% in November

Residential Building Permits Up 8.5% in November

Housing starts also up — in the low double digits — compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Construction spending May 2022

Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,639,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 8.5% above the November 2019 rate of 1,510,000 and 6.2% above the revised October rate of 1,544,000.

Single-family authorizations in November were at a rate of 1,143,000; this is 1.3 percent (±0.8 percent) above the revised October figure of 1,128,000. Authorizations of units in buildings with five units or more were at a rate of 441,000 in November.

Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,547,000. This is 12.8% above the November 2019 rate of 1,371,000 and 1.2% above the revised October estimate of 1,528,000. Single-family housing starts in November were at a rate of 1,186,000; this is 0.4% above the revised October figure of 1,181,000. The November rate for units in buildings with five units or more was 352,000.

Privately owned housing completions in November were at a seasonally adjusted annual rate of 1,163,000. This is 4.8 below the November 2019 rate of 1,222,000 and 12.1% below the revised October estimate of 1,323,000. Single-family housing completions in November were at a rate of 874,000; this is 0.6% below the revised October rate of 879,000. The November rate for units in buildings with five units or more was 280,000.

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