US November building permits and housing starts
Both the US November building permits and housing starts came in better than expectations/
- building permits 1.712M vs 1.663M estimate. Previous 1.653M
- single-family permits came in at 1.103M versus 1.074M in October
- housing starts 1.679M vs 1.568M estimate. Previous 1.52M revised to 1.502M
- single-family housing starts came in at 1.173M vs October's 1.054M revised number
- building permits rose by 3.6% versus 4.2% in October
- housing starts MoM rose 11.8% versus -3.1% (revised from -0.7%)
- housing completions in November came in at 1.282M versus October's 1.231M. The November 2020 rate was at 1.244M
- single-family housing completions in November were at a rate of 0.910M below the October rate of 0.911M.
The housing market remains very tight as inventory is historically low. Builders seem to be picking up as they head into the winter months.
