Nov. Housing Starts, Permits, Completions Fall

Starts and Completions fell sharply in November as did permits for single family units. From the Census Bureau:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,152,000. This is 1.5 percent below the revised October rate of 1,170,000 and is 24.6 percent below the revised November 2006 estimate of 1,527,000.

Single-family authorizations in November were at a rate of 764,000; this is 5.6 percent below the October figure of 809,000.

HOUSING STARTS

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,187,000. This is 3.7 percent below the revised October estimate of 1,232,000, and is 24.2 percent below the revised November 2006 rate of 1,565,000.

Single-family housing starts in November were at a rate of 829,000; this is 5.4 percent below the October figure of 876,000.


HOUSING COMPLETIONS

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,344,000. This is 4.1 percent below the revised October estimate of 1,402,000 and is 28.7 percent below the revised November 2006 rate of
1,885,000.

Single-family housing completions in November were at a rate of 1,088,000; this is 4.1 percent below the October figure of 1,135,000.

The bottom callers were notably absent today. Still a ways to go I suspect.