US Housing Starts: Nov 2018

 The pace of single-family starts in the US declined for the third consecutive month as housing affordability concerns continue to weigh on the home construction market, according to a joint data release from the US Census Bureau and HUD Tuesday. 
Total starts posted a +3.2% increase due to gains for multifamily development. The November rate of single-family starts decreased -4.6% to a seasonally adjusted annual rate of 824,000. The housing starts report showed starts were up +3.2% in November compared to October .

Starts were down -3.6% in October compared to October 2017. Through eleven months, starts are up +5.1% year-to-date compared to the same period in 2017. Single family starts are up +3.9% year-to-date. Single family starts were down 13.2% year-over-year.  This was the weakest month for single family starts since May 2017.
SOURCE: Calculated Risk

Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,328,000. This is +5% above the revised October rate of 1,265,000 and is +0.4% above the November 2017 rate of 1,323,000. Single‐family authorizations in November were at a rate of 848,000; this is +0.1% above the revised October figure of 847,000. Authorizations of units in buildings with five units or more were at a rate of 441,000 in November.

SOURCE: Madison’s Lumber Reporter