Winter Arrived Early, Construction Slowed as Well

By Jann Swanson

Posted To: MND NewsWire

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. Single family permits were at a rate of 639,000 units, a decrease of 1.2 percent from the October’s 647,000 units, revised from 640,000…(read more)

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