Tuesday, December 16, 2014

New Residential Construction Report: November 2014

Today’s New Residential Construction Report showed notable declines to both permits and starts with total permit activity declining a notable 5.2% since October while total starts declined 1.6% over the same period.

Single family housing permits, the most leading of indicators, declined 1.2% from October to 639K single family units (SAAR), and declined 0.9% below the level seen in November 2013 and still remained well below levels seen at the peak in September 2005.