Market Updates
U.S. Housing Starts Dropped but Completions Advanced In November
Brian Turner
18 Dec, 2024
Washington, D.C.
Housing starts in November unexpectedly declined and dropped to the lowest level in four months, according to the U.S. Census Bureau.
Privately owned housing starts were at a seasonally adjusted annual rate of 1.289 million, 1.8% below the revised level of 1.312 million, and 14.6% below the rate of 1.51 million in the month a year ago.
Building permits, authorized housing but not started yet, were at a seasonally adjusted rate of 1.505 million in November, an increase of 6.1% from the previous month but 0.2% below the rate in the month a year ago.
However, housing completions were at a seasonally adjusted rate of 1.6 million in November, a decline of 1.9% from the previous month and an increase of 9.2% from a year ago.
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