Housing Starts Jumped 13.7% in October

Washington, DC, November 17, 2017-Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,290,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced. This is 13.7% above the revised September estimate of 1,135,000, but is 2.9% below the October 2016 rate of 1,328,000.

Single-family housing starts in October were at a rate of 877,000; this is 5.3% above the revised September figure of 833,000. The October rate for units in buildings with five units or more was 393,000.

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,297,000. This is 5.9% above the revised September rate of 1,225,000 and is 0.9% above the October 2016 rate of 1,285,000. Single-family authorizations in October were at a rate of 839,000; this is 1.9% above the revised September figure of 823,000. Authorizations of units in buildings with five units or more were at a rate of 416,000 in October.

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,232,000. This is 12.6% above the revised September estimate of 1,094,000 and is 15.5% above the October 2016 rate of 1,067,000. Single-family housing completions in October were at a rate of 793,000; this is 2.6% above the revised September rate of 773,000. The October rate for units in buildings with five units or more was 433,000.