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New Housing Numbers WAY Down Again...

December 18, 2007 – Comments (1)

FOR IMMEDIATE RELEASE TUESDAY, DECEMBER 18, 2007 AT 8:30 A.M. EST

CB07-179

Erica Filipek or Raemeka Mayo

Manufacturing and Construction Division

(301) 763-5160

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential

construction statistics for November 2007:

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,152,000.

This is 1.5 percent (±1.5%)* below the revised October rate of 1,170,000 and is 24.6 percent (±1.6%) below the revised November 2006 estimate of 1,527,000.

Single-family authorizations in November were at a rate of 764,000; this is 5.6 percent (±1.9%) below the October figure of 809,000.

Authorizations of units in buildings with five units or more were at a rate of 334,000 in November.

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,187,000. This is 3.7 percent (±8.1%)*

below the revised October estimate of 1,232,000, and is 24.2 percent (±8.3%) below the revised November 2006 rate of 1,565,000.

Single-family housing starts in November were at a rate of 829,000; this is 5.4 percent (±7.4%)* below the October figure of 876,000.

The November rate for units in buildings with five units or more was 332,000.

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,344,000. This is 4.1 percent

(±7.7%)* below the revised October estimate of 1,402,000 and is 28.7 percent (±6.1%) below the revised November 2006 rate of 1,885,000.

Single-family housing completions in November were at a rate of 1,088,000; this is 4.1 percent (±7.4%)* below the October figure of

1,135,000. The November rate for units in buildings with five units or more was 229,000.