Housing starts increased to a seasonally adjusted annual rate of 1.547 million in November, according to the U.S. Census Bureau. The increase was 1.2% above the revised October estimate of 1.528 million and is 12.8% above the November 2019 rate of 1.371 million. Single-family home starts increased 0.4% from last month.
Housing starts were mixed across the country, rising in the Northeast (58.8%) and West (8.2%) but falling in the South (6.0%) and Midwest (4.9%).
New building permits were 1.639 million in November, 6.2% higher from the previous month and 8.5% higher year-over-year. Single-family building permits increased 1.3% from the revised October figure.
Housing completions were at a seasonally adjusted annual rate of 1.163 million, down 12.1% from the revised October estimate and 4.8% below the November 2019 rate.
Read the Census release.
