Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,297,000, according to the most recent data from the U.S. Census Bureau. This is +3.3% above the revised October estimate of 1,256,000 and +12.9% above the November 2016 rate of 1,149,000. Single-family housing starts in November were at a rate of 930,000, +5.3% above the revised October figure of 883,000. The November rate for units in buildings with five units or more was 359,000.
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“The strong November reading indicates that builders are continuing to increase single-family production to meet growing demand for housing,” said NAHB Chief Economist Robert Dietz. “With low unemployment and increasing owner-occupied household formation, single-family starts should continue to make gains in 2018.”
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