U.S. Census Bureau: Monthly New Residential Construction, November 2024

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2024:

Building Permits

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,505,000. This is 6.1 percent above the revised October rate of 1,419,000, but is 0.2 percent below the November 2023 rate of 1,508,000. Single-family authorizations in November were at a rate of 972,000; this is 0.1 percent above the revised October figure of 971,000. Authorizations of units in buildings with five units or more were at a rate of 481,000 in November.

Housing Starts

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,289,000. This is 1.8 percent (±10.6 percent)* below the revised October estimate of 1,312,000 and is 14.6 percent (±11.7 percent) below the November 2023 rate of 1,510,000. Single-family housing starts in November were at a rate of 1,011,000; this is 6.4 percent (±10.8 percent)* above the revised October figure of 950,000. The November rate for units in buildings with five units or more was 264,000.

Housing Completions

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,601,000. This is 1.9 percent (±9.2 percent)* below the revised October estimate of 1,632,000, but is 9.2 percent (±12.9 percent)* above the November 2023 rate of 1,466,000. Single-family housing completions in November were at a rate of 1,038,000; this is 3.3 percent (±8.7 percent)* above the revised October rate of 1,005,000. The November rate for units in buildings with five units or more was 544,000.

The December report is scheduled for release on January 17, 2025. View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>. The full text and tables for this release can be found at <www.census.gov/construction/nrc/>.

Source: U.S. Census Bureau