Housing starts surge in October
Permits hold level for month while completions slip 4.5 percent.
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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 2020:
Building Permits
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,545,000. This is virtually unchanged (±1.3 percent)* from the revised September rate of 1,545,000, but is 2.8 percent (±1.6 percent) above the October 2019 rate of 1,503,000.
Single-family authorizations in October were at a rate of 1,120,000; this is 0.6 percent (±1.0 percent)* above the revised September figure of 1,113,000. Authorizations of units in buildings with five units or more were at a rate of 365,000 in October.
Housing Starts
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,530,000. This is 4.9 percent (±11.1 percent)* above the revised September estimate of 1,459,000 and is 14.2 percent (±8.8 percent) above the October 2019 rate of 1,340,000.
Single-family housing starts in October were at a rate of 1,179,000; this is 6.4 percent (±8.7 percent)* above the revised September figure of 1,108,000. The October rate for units in buildings with five units or more was 334,000.
Housing Completions
Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,343,000. This is 4.5 percent (±9.5 percent)* below the revised September estimate of 1,406,000, but is 5.4 percent (±10.7 percent)* above the October 2019 rate of 1,274,000.
Single-family housing completions in October were at a rate of 883,000; this is 3.4 percent (±8.4 percent)* below the revised September rate of 914,000. The October rate for units in buildings with five units or more was 444,000.
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