Housing starts, building permits continue to exceed expectations

 

• November Housing Starts: +1.2% M/M to 1.547M vs. 1.530M expected, 1.528M prior (revised from 1.530M).
• Single-family housing starts in November clocked in at a rate of 1.186M, up 0.4% above the revised October figure of 1.181M.
• Building permits +6.2% to 1.639M vs 1.553M expected and 1.544M (revised from 1.545M).
• The rate of single-family authorizations was 1.143M, up 1.3% from the revised October figure of 1.128M.
• Privately owned housing completions came in at a seasonally adjusted annual rate of 1.163M, or 12.1% below the revised October estimate of 1.323M and 4.8% lower than the November 2019 rate of 1.222M.
• The rate of single-family housing completions was 874K, 0.6% below the revised October rate of 879K.