Housing starts dip in November, remain far ahead of 2011

|  December 19, 2012 |

Privately-owned housing starts in the month of November were at a seasonally-adjusted annual rate of 861,000, according to figures released by the U.S. Census Bureau Wednesday morning. The rate is a 3-percent drop from the revised October estimate of 888,000. However, it’s a 21 percent increase over November 2011’s rate.

Single-family housing starts were at a rate of 565,000 in November, a 4.1 percent dip from the revised October figure of 589,000.  Meanwhile, apartments were at a seasonally-adjusted rate of 285,000.

Housing completions in November were at a seasonally adjusted annual rate of 677,000, representing a 9.7 percent drop from the revised October estimate of 750,000. But again, it’s much better footing that a year ago. That’s a 16.1 percent increase above the November 2011 rate of 583,000.

Single-family housing completions in November increased 2.4 percent above the revised October rate to 520,000, while apartments were at 150,000.

Building permits in November were issued to private housing units at a seasonally adjusted annual rate of 899,000. That’s is 3.6 percent increase from the revised October rate of 868,000 and is 26.8 percent above the November 2011 estimate of 709,000.

Permits were issued to single-family units in November at a rate of 565,000, a 0.2 percent decrease from the revised October figure of 566,000.  Permits were issued to apartments at a rate of 307,000 in November.

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