U.S. housing surges in October
Permits, starts and completions all rise.
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 2019:
Building Permits
Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,461,000. This is 5.0 percent (±1.7 percent) above the revised September rate of 1,391,000 and is 14.1 percent (±2.1 percent) above the October 2018 rate of 1,281,000.
Single‐family authorizations in October were at a rate of 909,000; this is 3.2 percent (±1.0 percent) above the revised September figure of 881,000. Authorizations of units in buildings with five units or more were at a rate of 505,000 in October.
Housing Starts
Privately owned housing starts in October were at a seasonally adjusted annual rate of 1,314,000. This is 3.8 percent (±8.7 percent)* above the revised September estimate of 1,266,000 and is 8.5 percent (±10.8 percent)* above the October 2018 rate of 1,211,000.
Single‐family housing starts in October were at a rate of 936,000; this is 2.0 percent (±6.3 percent)* above the revised September figure of 918,000. The October rate for units in buildings with five units or more was 362,000.
Housing Completions
Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,256,000. This is 10.3 percent (±11.7 percent)* above the revised September estimate of 1,139,000 and is 12.4 percent (±11.7 percent) above the October 2018 rate of 1,117,000.
Single‐family housing completions in October were at a rate of 897,000; this is 4.5 percent (±10.3 percent)* above the revised September rate of 858,000. The October rate for units in buildings with five units or more was 354,000.
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