The Commerce Department reported that privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000. This is 4.7% below October’s rate of 1,260,000 and is 6.6% below November 2015. Single-family authorizations in November were at a rate of 778k; this is 0.5% above October’s figure of 774k. Authorizations of units in buildings with five units or more were 384 in November. Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000. This is 18.7% below October’s number and is 6.9% higher than November 2015. Single-family housing starts in November were 828k – which is 4.1% lower than October. The November rate for units in buildings with five units or more was 259k.
