Residential Construction: November 2021
Housing Starts rose by almost 12% in November and are now up 8.3% year over year. Single family rose by 11%, but are still down 1% year over year. Permits rose by 3.6% in November and are up 1% year over year. Single family permits rose 2.7%, but are still down 4.5% year over year. The backlog of homes continues to grow and speaks to the difficulty of getting homes delivered – homes authorized but not yet started increased by 1.5% and are up 46% year over year.
source: census.gov & mbshighway.com