News & Insights

Building permits increased 6.1% in November but fell 0.2% over the year. Permits for single-family homes rose 0.1% in November but declined 2.7% over the year. Permits for buildings with five or more units grew 22.1% from October and 4.8% over the year.

In November, housing starts decreased 1.8% over the month and 14.6% over the year. Additionally, starts for single-family homes increased 6.4% from October but fell 10.2% from November 2023. Meanwhile, starts for buildings with five or more units plummeted 24.1% from October and 28.8% over the year.

Housing completions decreased 1.9% from October but jumped 9.2% from November 2023. Single-family home completions increased 3.3% from October and 7.0% over the year. Completions for buildings with five or more units dropped 11.1% over the month but rose 13.6% from November 2023.