While housing completions were down, residential construction
improved again in November. Permitting was especially strong with a 6.2 percent
month-over-month increase. The U.S. Census Bureau and Department of Housing and
Urban Development reported that permits were issued at a seasonally adjusted
annual rate of 1,639,000 during the month. This was 8.5 percent higher than the
permitting level in November 2019. The earlier October estimate was revised down
by 1,000 units to 1,544,000. Analysts polled by Econoday had predicted that
permits would be in a range of 1,480,000 to 1,580,000 with a consensus of 1,553,000.
The forecast from Trading Economics was 1,550,000.