US : Building Permits and Housing Starts

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The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2008:

BUILDING PERMITS

"Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 616,000.
This is 15.6 percent (±1.6%) below the revised October rate of 730,000 and is 48.1 percent (±1.1%) below the revised November 2007 estimate of 1,187,000."

Single-family authorizations in November were at a rate of 412,000; this is 12.3 percent (±1.5%) below the October figure of 470,000. Authorizations of units in buildings with five units or more were at a rate of 182,000 in November.

HOUSING STARTS

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,084,000. This is 3.3 percent (±9.5%)* above the revised October estimate of 1,049,000, but is 22.8 percent (±6.5%) below the revised November 2007 rate of 1,404,000.

Single-family housing completions in November were at a rate of 760,000; this is 0.9 percent (±10.2%)* above the October figure of 753,000. The November rate for units in buildings with five units or more was 301,000.

Full release here.