Housing Starts Rose 1.9% in October

Washington, DC, November 17, 2023- Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,372,000, according to the U.S. Census Bureau, 1.9% above the revised September estimate of 1,346,000 but 4.2% below the October 2022 rate of 1,432,000. Single‐family housing starts in October were at a rate of 970,000; this is 0.2% above the revised September figure of 968,000. The October rate for units in buildings with five units or more was 382,000.

Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,487,000. This is 1.1% above the revised September rate of 1,471,000, but is 4.4% below the October 2022 rate of 1,555,000. Single‐family authorizations in October were at a rate of 968,000; this is 0.5% above the revised September figure of 963,000. Authorizations of units in buildings with five units or more were at a rate of 469,000 in October.

Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,410,000. This is 4.6% below the revised September estimate of 1,478,000, but is 4.6% above the October 2022 rate of 1,348,000. Single‐family housing completions in October were at a rate of 993,000; this is 0.9% below the revised September rate of 1,002,000. The October rate for units in buildings with five units or more was 408,000.