All three of the U.S. Census Bureau/Department of Housing
and Urban Development construction indicators dropped in November from their
October levels and both residential building permits and housing starts were
also lower than one year earlier. The
number of housing completions did manage to surpass the November 2013 level.
Privately-owned housing units were permitted at a seasonally
adjusted annual rate of 1,035,000 in November, a 5.2 percent decline from
October. The estimate of October permits
was revised upward in this morning’s report from 1,080,000 to 1,092,000. The November number was down 0.2 percent from
1,037,000 units reported in November 2013.