MONTHLY NEW RESIDENTIAL CONSTRUCTION, NOVEMBER 2018
The Census Bureau released its monthly new residential construction report for November 2018.
STARTS
Nationally, starts in November were at a seasonally adjusted annual rate of 1,256,000. This is 3.2 percent above the revised October estimate of 1,217,000 but is 3.6 percent below the November 2017 rate of 1,303,000.
Construction starts for buildings with 5 or more units were up 24.9 percent from October to a level of 343,000 on a seasonally adjusted, annualized basis.
Regionally, on a year-over-year basis, starts in the South were up by 15.1 percent compared to November 2017.
Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,099,000. This is 0.4 percent above the revised October estimate of 1,095,000 but is 3.9 percent below the November 2017 rate of 1,144,000.
The November rate for units in buildings with five units or more was 314,000 which is 16.3 percent increase from October but is 9.8% down from November 2017.