Housing Starts – November 2008

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Housing Starts At a Glance
Seasonally Adjusted

Housing Starts: 625,000.
Monthly Change: Down 18.9%
Year-to-year Change: Down 47%
1-Family Monthly Change: Down 16.9%
Housing Completions: 1,084,000
Monthly Change: Up 3.3%
Year-to-year Change: Down 22.8%
1-Family Monthly Change: Up 0.9%
Building Permits: 616,000
Monthly Change: Down 15.6%
Year-to-year Change: Down 48.1%
1-Family Monthly Change: Down 12.3%

Technorati Tags: housing starts, new residential construction, residential construction, home construction

NEW RESIDENTIAL CONSTRUCTION IN NOVEMBER 2008
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 starts in November were at a seasonally adjusted annual rate of 625,000. This is 18.9 percent (±8.9%) below
the revised October estimate of 771,000 and is 47.0 percent (±5.5%) below the revised November 2007 rate of 1,179,000.
Single-family housing starts in November were at a rate of 441,000; this is 16.9 percent (±8.5%) below the October figure of 531,000.
The November rate for units in buildings with five units or more was 166,000.
HOUSING COMPLETIONS
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.