Industry News

Housing permits fall for 10th straight month

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The rate of residential building permit authorizations fell for the 10th consecutive month in November, the U.S. Census Bureau and Department of Housing and Urban Development reported today, and was 31.3 percent below the November 2005 level. The seasonally adjusted annual rate of privately owned housing units authorized by building permits was about 1.51 million in November, compared with 1.55 million in October and 2.19 million in November 2005. The rate is a projection of a monthly total over a 12-month period, adjusted for seasonal fluctuations in activity. Single-family building-permit authorizations reached a rate of about 1.14 million in November, which is 3.1 percent below the October figure and 33.3 percent below the November 2005 rate. Authorizations of units in buildings with five units or more were at a rate of about 299,000 in November, which is 2 percent below the October rate and 24.1 percent below the November 2005 rate. Privately owned housing starts in November w...