The new home building industry is heating up according to the statistics published today by the Census Bureau and Department of Housing and Urban Development. Permits give us an indication of what future home building activity will be. The numbers below show the percentage change (comparing November 2012 to November 2011) in privately owned housing permits authorized. Eliminating the jargon…these numbers show how permits have changed from this past month compared to last year’s November.
Privately owned housing permits authorized (% change comparing November 2012 to November 2011):
- U.S. as a whole: +26.8%
- Northeast: -5%
- Midwest: +49.5%
- South: +29%
- West: +22.2%
Year to Date percentage change in privately owned housing permits issued:
- U.S. as a whole: +32.8%
- Northeast: +22.5%
- Midwest: +27.9%
- South: +34%
- West: +39.1%
The western U.S. leads the pack in permits pulled for new privately owned housing units so far this year. Of course, permits are just an indication of building activity to come. Some permits may never actually be used. So, let’s take a look at actual housing starts.
Privately Owned Single Family Housing Starts (1 unit) percentage change comparing November 2012 to November of last year:
- U.S. +18.2%
- Northeast -2.9%
- Midwest +23.3%
- South +19.3%
- West +26.5%
The western U.S. leads the nation in percentage change in actual housing starts for November. The northeast is down slightly from last year’s construction starts but this could be due to inclement weather.
Source: U.S. Census Bureau and Department of Housing and Urban Development. To see the full report, check out the U.S. Census Bureau News.
