Use access key #2 to skip to page content.

New Housing Numbers WAY Down Again...

Recs

6

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

NEW RESIDENTIAL CONSTRUCTION IN NOVEMBER 2007

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

construction statistics for November 2007:

BUILDING PERMITS

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.

HOUSING STARTS

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.

HOUSING COMPLETIONS

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.

1 Comments – Post Your Own

#1) On December 18, 2007 at 5:15 PM, leohaas (31.08) wrote:

Sure, they are way down, but roughly in line with what was expected. That is probably why the builders were not clobbered today (like they should). It looks like most of the bad news is now priced in to the market.

Report this comment

Featured Broker Partners


Advertisement