Market Updates
Housing Starts and Permits Fell but Completions Rose In November
Brian Turner
20 Dec, 2022
New York City
U.S. housing starts declined 0.5% to a seasonally adjusted 1.427 million annual rate after dropping downwardly revised 2.1% in October, the U.S. Census Bureau reported Tuesday.
Single family housing starts declined 4.1% to an annual pace of 828.000 and multi-family starts jumped 4.8% to 584,000.
Housing market is struggling under rising mortgage rates and record home prices, keeping many first time buyers away from the market.
Building Permits
November building permits declined 11.2% to a seasonally adjusted annual rate of 1.342 million from October and 22.4% below 1.792 million a year ago.
Housing Completions
November completions increased 10.8% to a seasonally adjusted annual rate of 1.49 million from the revised October estimate of 1.345 million and 6.0% higher than 1.406 million rate a year ago.
Annual Returns
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Earnings
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