February 05, 2021

(Washington, DC, Economic & Insurance News by Insurance Market 360) – Data of November 2020 released by the US Census Bureau and department of Housing and urban development exhibits the decline in newly completed house constructions than building permissions and house starting in comparison with the values in October 2020.

Calculation is done by adopting technique of sample survey put through for sampling mutability, non sampling inaccuracy consisting of bias and response from the participants, non participants, un-reported and under coverage.

With respect to building permissions, total permitted are 1,639,000.There is an increase of 6.2% than the last month, 8.5% hike than October last year. Single family permits improved by 1.3% than Oct 2020.Number of five or more building permissions in November 2020 , 441,000.

The number of house permits in November 2020 was 1,547,000.Private owned starts in the month was 1.2% more than October 2020 and 12.8% high than the same time last year. Single family count is improved by 0.4% than the last month. Count related to five or more building permits was 352,000 in November 2020.

Statistics reveal that 1,163,000 houses were completed in November 2020.Private owned completed were 12% less than the last month and 4.8% less when compared to the value of Nov 2019.Single family constructions dipped by 0.6% to last month and five or more building constructions value was 280,000 in November 2020.

Survey is conducted periodically to analyze and review the status in constructions sector. Quarterly data facilitates the trend, half year statistics reveal the stars value and six months numbers about the completed status.

Source: Government Construction Census

Reference: https://www.census.gov/construction/nrc/pdf/newresconst.pdf