NEW RESIDENTIAL CONSTRUCTION IN NOVEMBER 2004

BUILDING PERMITS
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,988,000. This is 1.5 percent (±1.1%) below the revised October rate of 2,018,000 but is 3.5 percent (±0.9%) above the November 2003 estimate of 1,920,000. Single-family authorizations in November were at a rate of 1,527,000; this is 1.9 percent (±1.3%) below the October figure of 1,557,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in November.

HOUSING STARTS

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,771,000. This is 13.1 percent (±5.6%) below the revised October estimate of 2,039,000 and is 13.8 percent (±8.1%) below the November 2003 rate of 2,054,000.

Single-family housing starts in November 2004 were at a rate of 1,448,000; this is 11.7 percent (±5.7%) below the October figure of 1,640,000. The November estimate for units in buildings with five units or more was 288,000.