U.S. Housing Starts Boom In November

U.S. housing starts—single-family and multi-family combined—made their largest monthly increase in 2023, jumping 14.8% in November over October to a rate of 1.560 million. Single-family starts in November were at a rate of 1.143 million, a whopping 18% above October, while multi-family was 404,000 in November, up nearly 9% over October.

Building permits were 1.460 million in November, down 2.5% from October; though single-family increased 0.7% to 969,000, while multi-family was 435,000, down 9.6%.

Housing completions were at an annual rate of 1.447 million, 5% above October, with single-family at 960,000, 3.2% below October, and multi-family at 472,000, up 26.5%.

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