Housing Starts Surged in November, Up 10.5%

Washington, DC, December 16, 2015—Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,289,000, according to the Commerce Department.

This is 11.0% above the revised October rate of 1,161,000 and is 19.5% above the November 2014 estimate of 1,079,000.

Single-family authorizations in November were at a rate of 723,000; this is 1.1% above the revised October figure of 715,000. Authorizations of units in buildings with five units or more were at a rate of 539,000 in November.

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,173,000. This is 10.5% above the revised October estimate of 1,062,000 and is 16.5% above the November 2014 rate of 1,007,000.

Single-family housing starts in November were at a rate of 768,000; this is 7.6% above the revised October figure of 714,000. The November rate for units in buildings with five units or more was 398,000.

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 947,000. This is 3.2% below the revised October estimate of 978,000, but is 9.2% above the November 2014 rate of 867,000.

Single-family housing completions in November were at a rate of 632,000; this is 0.3% above the revised October rate of 630,000. The November rate for units in buildings with five units or more was 306,000.