Investments

Housing starts fall in November led by single-family decline

Declines and disappointment all around for starts, permits and completions

Housing starts were down in November, printing at a seasonally adjusted annual rate of 1,028,000, just below analyst expectations, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 1.6% below the revised October estimate of 1,045,000 and is 7% below the November 2013 rate of 1,105,000.

Single-family housing starts in November were at a rate of 677,000; this is 5.4%  below the revised October figure of 716,000.

The November rate for units in buildings with five units or more was 340,000.

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,035,000. This is 5.2% below the revised October rate of 1,092,000 and is 0.2% below the November 2013 estimate of 1,037,000.

Single-family authorizations in November were at a rate of 639,000; this is 1.2% below the revised October figure of 647,000. Authorizations of units in buildings with five units or more were at a rate of 367,000 in November.

Builders saw a slowdown, too. Privately-owned housing completions in November were at a seasonally adjusted annual rate of 863,000. This is 6.4% below the revised October estimate of 922,000, but is 4.5% above the November 2013 rate of 826,000.

Single-family housing completions in November were at a rate of 596,000; this is 2.9% below the revised October rate of 614,000. The November rate for units in buildings with five units or more was 256,000. 

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