Housing Starts Rose 25.5% in October

Washington, DC, November 17, 2016—Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,323,000. This is 25.5% above the revised September estimate of 1,054,000 and is 23.3% above the October 2015 rate of 1,073,000, the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced.

Single-family housing starts in October were at a rate of 869,000; this is 10.7% above the revised September figure of 785,000. The October rate for units in buildings with five units or more was 445,000.

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,229,000. This is 0.3% above the revised September rate of 1,225,000 and is 4.6% above the October 2015 estimate of 1,175,000.

Single-family authorizations in October were at a rate of 762,000; this is 2.7% above the revised September figure of 742,000. Authorizations of units in buildings with five units or more were at a rate of 439,000 in October.

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,055,000. This is 5.5% above the revised September estimate of 1,000,000 and is 7.2% above the October 2015 rate of 984,000.

Single-family housing completions in October were at a rate of 749,000; this is 3.9% above the revised September rate of 721,000. The October rate for units in buildings with five units or more was 300,000.