Dec. 18, 2007 - New Residential Construction In Nov. 2007

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2007.

Building Permits

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,152,000. This is 1.5 percent (±1.5%)* below the revised October rate of 1,170,000 and is 24.6 percent (±1.6%) below the revised November 2006 estimate of 1,527,000.

Single-family authorizations in November were at a rate of 764,000; this is 5.6 percent (±1.9%) below the October figure of 809,000. Authorizations of units in buildings with five units or more were at a rate of 334,000 in November.

Housing Starts

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,187,000. This is 3.7 percent (±8.1%)* below the revised October estimate of 1,232,000, and is 24.2 percent (±8.3%) below the revised November 2006 rate of 1,565,000.

Single-family housing starts in November were at a rate of 829,000; this is 5.4 percent (±7.4%)* below the October figure of 876,000. The November rate for units in buildings with five units or more was 332,000.

Housing Completions

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,344,000. This is 4.1 percent (±7.7%)* below the revised October estimate of 1,402,000 and is 28.7 percent (±6.1%) below the revised November 2006 rate of 1,885,000.

Single-family housing completions in November were at a rate of 1,088,000; this is 4.1 percent (±7.4%)* below the October figure of 1,135,000. The November rate for units in buildings with five units or more was 229,000.