Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,531,000, according to estimates reported today by the U.S. Commerce Department's Bureau of the Census. This is 1 (+/—6) percent above the revised October rate of 1,519,000 and 3 (+/—6) percent above the November 1996 rate of 1,486,000.

Single-family housing starts in November 1997 were at a rate of 1,166,000; this is 2 (+/—7) percent above the October figure of 1,138,000. The November rate for units in buildings with five units or more was 328,000. The November rate for units in buildings with two to four units was 37,000.

During the first 11 months of this year, 1,368,400 housing units were started compared with 1,383,700 units for the same period in 1996. This is a decrease of 1 (+/—1) percent.

The seasonally adjusted annual rate of housing units authorized by building permits in November was 1,448,000; this is 3 (+/—1) percent below the revised October rate of 1,487,000, but 4 (+/—2) percent above the November 1996 estimate of 1,391,000.

Single-family authorizations in November 1997 were at a rate of 1,057,000; this is 3 (+/—1) percent below the October figure of 1,087,000. Authorizations of units in buildings with five units or more were at a rate of 330,000 in November. The November rate of permit-authorized units in buildings with two to four units was 61,000.

During the first 11 months of this year, 1,334,300 housing units were authorized by building permits compared with 1,326,400 for the same period in 1996. This is an increase of 1 (+/—1) percent.

Statistics on mobile home shipments, which lag by 1 month, appear in the Current Construction Reports, series C20. In October, manufacturers' shipments of mobile homes were at a seasonally adjusted annual rate of 348,000, 2 percent below the September figure of 354,000. The October 1996 rate was 364,000. Before seasonal adjustment, total shipments in October 1997 were 34,300.

Category		Nov 97-(p)	Oct 97-(r)	Sep 96	1st 11 mos-X
Housing Starts, (SAAR)	1,531		1,519		1,486	1,368.4
Northeast (SAAR)	  165		  117		  128	  132.1
Midwest (SAAR)		  270		  313		  330	  282.4
South (SAAR)		  680		  708		  672	  621.1
West (SAAR)		  416		  381		  356	  337.4

(p)–Preliminary.

(r)–Revised.

X–Not seasonally adjusted.

December 16, 1997 U.S. Department of Commerce

Consensus National Futures and Financial On Line Index

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