Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,600,000, according to estimates reported today by the U.S. Commerce Department's Bureau of the Census. This is 2 (+/-6) percent below the revised October rate of 1,637,000 and 3 (+/-7) percent below the November 1998 rate of 1,654,000.
Single-family housing starts in November 1999 were at a rate of 1,292,000; this is 4 (+/-6) percent below the October figure of 1,340,000. The November rate for units in buildings with five units or more was 280,000. The November rate for units in buildings with two to four units was 28,000.
During the first 11 months of this year, 1,549,300 housing units were started compared with 1,497,300 units for the same period in 1998. This is an increase of 3 (+/-2) percent.
The seasonally adjusted annual rate of housing units authorized by building permits in November was 1,614,000; this is 1 (+/-1) percent above the revised October rate of 1,594,000, but 4 (+/-1) percent below the November 1998 estimate of 1,688,000.
Single-family authorizations in November 1999 were at a rate of 1,190,000; this is 1 (+/-1) percent above the October figure of 1,178,000. Authorizations of units in buildings with five units or more were at a rate of 357,000 in November. The November rate of permit-authorized units in buildings with two to four units was 67,000.
During the first 11 months of this year, 1,521,200 housing units were authorized by building permits compared with 1,479,600 units for the same period in 1998. This is an increase of 3 (+/-1) percent.
Housing starts and building permits data do not include manufactured home units. Manufactured home statistics are available through the internet at http://www.census.gov/const/www/mhsindex.html For further information on these data, contact the Census Bureau's Construction Expenditures Branch, Manufacturing and Construction Divsion, telephone 301-457-1605.
Seasonally adjusted data are revised annually using the latest available information. The seasonally adjusted estimates of housing starts shown in this release have been revised. Revised monthly data for 1996, 1997 and 1998 will appear in the January Current Construction Reports, C20/99-1. In addition, seasonally adjusted statistics for manufacturers' shipments of manufactured homes for January 1996 through November 1998 have been revised and will appear in the January report.
The next press release is scheduled to be issued on Wednesday, January 19, 2000, at 8:30 A.M. EST.
Source: U.S. Census Bureau
Last revised: December 17, 1999
