U.S. Census Bureau: Monthly New Residential Construction, November 2023

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2023:

Building Permits

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,460,000. This is 2.5 percent below the revised October rate of 1,498,000, but is 4.1 percent above the November 2022 rate of 1,402,000. Single-family authorizations in November were at a rate of 976,000; this is 0.7 percent above the revised October figure of 969,000. Authorizations of units in buildings with five units or more were at a rate of 435,000 in November.

Housing Starts

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,560,000. This is 14.8 percent (±14.0 percent) above the revised October estimate of 1,359,000 and is 9.3 percent (±14.6 percent)* above the November 2022 rate of 1,427,000. Single-family housing starts in November were at a rate of 1,143,000; this is 18.0 percent (±12.9 percent) above the revised October figure of 969,000. The November rate for units in buildings with five units or more was 404,000.

Housing Completions

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,447,000. This is 5.0 percent (±15.1 percent)* above the revised October estimate of 1,378,000, but is 6.2 percent (±15.2 percent)* below the November 2022 rate of 1,543,000. Single-family housing completions in November were at a rate of 960,000; this is 3.2 percent (±13.2 percent)* below the revised October rate of 992,000. The November rate for units in buildings with five units or more was 472,000.

The December report is scheduled for release on January 18, 2024.  View the full schedule in the Economic Briefing Room: < www.census.gov/economic-indicators/ > .  The full text and tables for this release can be found at < www.census.gov/construction/nrc/ >.

To view the original release, click here.

Source: U.S. Census Bureau