Industry News

Housing starts, permits rise in November

Fewer homes completed during Oct.-Nov. period

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Housing starts, housing completions and building permits were up in November compared to the same month in 2004, the U.S. Census Bureau and the Department of Housing and Urban Development announced today. Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of about 2,155,000, which is 2.5 percent above the revised October rate of 2,103,000 and is 3 percent above the November 2004 estimate of 2,093,000. The seasonally adjusted annual rate is a projection of a monthly total over a 12-month period, adjusted for seasonal fluctuations in construction activity. Single-family authorizations in November were at a rate of about 1,710,000, which is 0.2 percent above the October figure of 1,707,000. Authorizations of units in buildings with five units or more were at a rate of 361,000 in November. Privately owned housing starts in November were at a seasonally adjusted annual rate of about 2,123,000, which is 5.3 percent above the r...