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United States : HUD and Census Bureau Report Residential Construction Activity in November 2017.

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for November 2017.

Building Permits: Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,298,000. This is 1.4 percent (1.7 percent) below the revised October rate of 1,316,000 but is 3.4 percent (2.3 percent) above the November 2016 rate of 1,255,000. Single-family authorizations in November were at a rate of 862,000; this is 1.4 percent (1.6 percent) above the revised October figure of 850,000. Authorizations of units in buildings with five units or more were at a rate of 395,000 in November.

Housing Starts: Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,297,000. This is 3.3 percent (9.1 percent) above the revised October estimate of 1,256,000 and is 12.9 percent (11.7 percent) above the November 2016 rate of 1,149,000. Single-family housing starts in November were at a rate of 930,000; this is 5.3 percent (10.2 percent) above the revised October figure of 883,000. The November rate for units in buildings with five units or more was 359,000.

Housing Completions: Privately owned housing completions in November were at a seasonally adjusted annual rate of 1,116,000. This is 6.1 percent (10.4 percent) below the revised October estimate of 1,189,000 and is 7.2 percent (12.5 percent) below the November 2016 rate of 1,203,000. Single-family housing completions in November were at a rate of 752,000; this is 4.6 percent (12.0 percent) below the revised October rate of 788,000. The November rate for units in buildings with five units or more was 353,000.

The December report is scheduled for release on January 18, 2018.

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Publication:Mena Report
Date:Dec 21, 2017
Words:346
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