Housing: Permits Rise but Starts Fall in October
Privately‐owned housing permits rose 4.0 percent for month; single-family permits advance 2.7 percent.
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 2021:
Building Permits
Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,650,000. This is 4.0 percent (±1.5 percent) above the revised September rate of 1,586,000 and is 3.4 percent (±1.6 percent) above the October 2020 rate of 1,595,000.
Single‐family authorizations in October were at a rate of 1,069,000; this is 2.7 percent (±1.2 percent) above the revised September figure of 1,041,000. Authorizations of units in buildings with five units or more were at a rate of 528,000 in October.
Housing Starts
Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,520,000. This is 0.7 percent (±12.2 percent)* below the revised September estimate of 1,530,000, but is 0.4 percent (±12.3 percent)* above the October 2020 rate of 1,514,000.
Single‐family housing starts in October were at a rate of 1,039,000; this is 3.9 percent (±9.5 percent)* below the revised September figure of 1,081,000. The October rate for units in buildings with five units or more was 470,000.
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