Housing Starts Up In November

Posted by Orb Staff on December 17, 2009 No Comments
Categories : Residential Mortgage

Privately owned housing starts in November rose 8.9% above October's revised figure to a seasonally adjusted annual rate of 574,000, the U.S. Census Bureau has announced. The figure is 12.4% below the November 2008 rate of 655,000.

Single-family starts during the month were at a rate of 482,000 – a 2.1% increase over October's revised numbers. The rate of housing starts for buildings with five or more units was 83,000.

Housing completions in November rose 8.7% to 810,000, but fell 25.3% compared to the November 2008 rate of 1.08 million.

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 584,000 – a 6% increase above the revised October rate of 551,000, but 7.3% below the November 2008 estimate of 630,000.

SOURCE: U.S. Census Bureau

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