Home Building Permits Issued in US at 4-Year Highs in November

According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), permits for new home construction in the U.S. reached their highest level in nearly 4 years in November, despite housing starts dropped after three straight months of strong gains.
 
Building Permits
 
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 899,000. This is 3.6 percent (±1.1%) above the revised October rate of 868,000 and is 26.8 percent (±1.7%) above the November 2011 estimate of 709,000.
 
Single-family authorizations in November were at a rate of 565,000; this is 0.2 percent (±0.8%) below the revised October figure of 566,000. Authorizations of units in buildings with five units or more were at a rate of 307,000 in November.
 
Housing Starts
 
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 861,000. This is 3.0 percent (±14.3%) below the revised October estimate of 888,000, but is 21.6 percent (±12.5%) above the November 2011 rate of 708,000.
 
Single-family housing starts in November were at a rate of 565,000; this is 4.1 percent (±13.3%) below the revised October figure of 589,000. The November rate for units in buildings with five units or more was 285,000.
 
Housing Competitions
 
Privately-owned housing completions in November were at a seasonally adjusted annual rate of 677,000. This is 9.7 percent (±13.7%) below the revised October estimate of 750,000, but is 16.1 percent (±9.5%) above the November 2011 rate of 583,000.
 
Single-family housing completions in November were at a rate of 520,000; this is 2.4 percent (±11.7%) below the revised October rate of 533,000. The November rate for units in buildings with five units or more was 150,000.