Housing Starts and Permits Increase in November

The U.S. Census Bureau has reported that privately‐owned housing starts in November were at a seasonally adjusted annual rate (SAAR) of 1.547,000. This is 1.2% above the revised October estimate of 1,528,000 and is 12.8% above the November 2019 rate. Single-family housing starts in November were at a rate of 1,186,000; and this is 0.4% above the revised October figure. The November rate for units in buildings with five units or more was 352,000. Building Permits are the forward-looking portion of the report and in November privately-owned housing units authorized by building permits were at a SAAR of 1,639,000. This is 6.2% above the revised October rate of 1,544,000, and is 8.5% above the November 2019 rate. Single-family authorizations in November were at a rate of 1,143,000; this is 1.3% above the November 2019 figure. Authorizations of units in buildings with five units or more were at a rate of 441,000.