New home construction starts climb 13.7 percent in October
Permits rise 5.9 percent and completions climb 12.6 percent for month.
The U.S. Census Bureau and the U.S. Department of Housing and Urban
Development jointly announced the following new residential construction statistics for October 2017:
Building Permits
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 percent (±1.4 percent) above the revised September rate of 1,225,000 and is 0.9 percent (±1.6 percent)* 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 percent (±1.7 percent) 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.
Housing Starts
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,290,000. This is 13.7 percent (±10.5 percent) above the revised September estimate of 1,135,000, but is 2.9 percent (±10.1 percent)* 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 percent (±12.1 percent)* above the revised September figure of 833,000. The October rate for units in buildings with five units or more was 393,000.
Housing Completions
Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,232,000. This is 12.6 percent (±12.2 percent) above the revised September estimate of 1,094,000 and is 15.5 percent (±11.7 percent) 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 percent (±11.1 percent)* above the revised September rate of 773,000. The October rate for units in buildings with five units or more was 433,000.
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