Research
New Residential Construction Up Slightly
Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,712,000.
U.S. construction spending increased overall in December, though spending was down monthly in nearly a dozen nonresidential subcategories, according to the U.S. Census Bureau and a data analysis from Associated Builders and Contractors.
The U.S. Census Bureau says privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,712,000, a 3.6% increase over the revised October rate of 1,653,000 and 0.9% above the November 2020 rate of 1,696,000.
Single‐family authorizations in November were at a rate of 1,103,000, this is 2.7% above the revised October figure of 1,074,000.
Authorizations of units in buildings with five units or more were at a rate of 560,000 in November.
Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,679,000, an 11.8% increase above the revised October estimate of 1,502,000 and 8.3% above the November 2020 rate of 1,551,000.
Single‐family housing starts in November were at a rate of 1,173,000, an 11.3% increase above the revised October figure of 1,054,000. The November rate for units in buildings with five units or more was 491,000.
Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,282,000, a 4.1% increase above the revised October estimate of 1,231,000 and 3.1% above the November 2020 rate of 1,244,000.
Single‐family housing completions in November were at a rate of 910,000, 0.1% below the revised October rate of 911,000. The November rate for units in buildings with five units or more was 364,000.
