by U.S. Census report shows declines in year-over-year, month-over-month housing starts and residential building permits
WASHINGTON — Housing starts for the month of November dropped 16.4% from November 2021 and .5% below the rate for October, according to figures released by the U.S. Census Bureau.
Defined as a groundbreaking for a home’s foundation, the number of housing starts totaled 1.42 million, down from 1.7 million in November 2021 and slightly below the 1.43 million issued in the month of October.
There were 828,000 housing starts for single-family homes in November, down 4.1% from October, and 584,000 starts for units in buildings with five or more units.
Meanwhile, the number of building permits issued during the month of November dropped 22.4% from November 2021 and were 11.2% below the number issued in October.
The number of building permits issued in November totaled 1.34 million, which compared to 1.73 million in November 2021 and 1.51 million in October. A total of 781,000 building permits in November were for single-family homes, down 7.1% from the October figure of 841,000, and 509,000 were for units in buildings with five or more units.
The report also noted that there were 1.5 million privately owned housing completions in November, up 6% from the 1.4 million reported in November 2021 and 10.8% above the 1.35 million reported in October.
Of the completed units, 1.05 million were single-family homes, up 9.5% from the 956,000 reported in October. The number for units in buildings with five or more units was 430,000.
Highlights of building permit activity in the month of November are as follows:
+ In the Northeast, there were a total of 114,000 permits issued in November, down 24.5% from the 151,000 issued in November 2021.
+ In the Midwest, there were 197,000 building permits issued in November, down 7.9% from the 214,000 issued in November 2021.
+ In the South, there were 755,000 issued in November, down 17.8% from the 918,000 issued in November 2021.
+ And in the West, there were 276,000 issued, down 38.1% from the 446,000 issued in November 2021.
Highlights of housing units started in the month of November are as follows:
+ In the Northeast, a total of 83,000 units were started in November, down 27.2% from the 114,000 started in November 2021.
+ In the Midwest, there were 215,000 started in November, down .5% from the 216,000 started in November 2021.
+ In the South, there were 788,000 units started, down 16.7% from the 946,000 started in November 2021.
+ And in the West, there were 341,000 units started, down 20.7% from the 430,000 started in November 2021.
Highlights of housing units completed in the month of November are as follows:
+ In the Northeast, there were 223,000 units completed in November, up 95.6% from the 114,000 completed in November 2021.
+ In the Midwest, there were 197,000 units completed, down 7.5% from the 213,000 completed in November 2021.
+ In the South, there were 755,000 units completed, up 1.5% from the 744,000 completed in November 2021.
+ And in the West, there were 315,000 units completed, down 6% from the 335,000 completed in November 2021.
