According to the November 2004 residential construction statistics report published by the U.S. Commerce Department's Census Bureau and the U.S. Department of Housing and Urban Development, privately owned housing starts came in about 13.1 percent lower than its October 2004 number, and 13.8 percent lower than November 2003. Single-family housing starts were at a seasonally adjusted rate of 1,448,000, 11.7 percent below the October figure of 1,640,000.

Across the country starts fell from October 2004. The Northeast reported a 14.2 percent decrease; the Midwest, a 19.4 percent decrease; the South, a 10.4 percent decrease; and in the West, a 13.2 percent decrease, according to the report. The South region is the only area that didn't drop by double digits from November 2003, falling only 6 percent (the Northeast dropped 19.7 percent; the Midwest, 26.4 percent; and the West, 14.6 percent).

However, the report shows that housing units authorized in November, but not started at the end of the period, were up from October. Total starts in the United States were up 4.8 percent in that case. Only the Northeast boasts double digits in that category (10.4 percent), but the Midwest (8.3 percent), the South (1.4 percent), and the West (7.5 percent), show improvement.

Housing units under construction at the end of the period were up a small percentage from October to November, 0.3 percent. The Northeast and Midwest stayed level with October, showing no change, while the South region was up by 0.4 percent, and the West was up by 0.6 percent.

Privately owned housing completions in November were at a seasonally adjusted annual rate of 1,705,000—6 percent below the revised October estimate of 1,813,000, and 2 percent below the November 2003 rate of 1,709,000. When looked at regionally, the only area with a positive percentage was the South, boasting a 2 percent increase. The Northeast was down by 18.3 percent; the Midwest by 13.9 percent; and the West by 8.5 percent.

According to the report, it is important to note that month-to-month changes in seasonally adjusted statistics show movements which may be irregular, and that it may take five months to establish a trend for starts, and six months for total completions.