U.S. New Home Starts Dip in October

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According to the U.S. Census Bureau and the Department of Housing and Urban Development, new home starts slightly dipped in October.

BUILDING PERMITS

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 550,000. This is 0.5 percent (±3.0%) above the revised September rate of 547,000, but is 4.5 percent (±3.1%) below the October 2009 estimate of 576,000.

Single-family authorizations in October were at a rate of 406,000; this is 1.0 percent (±1.3%) above the revised September figure of 402,000. Authorizations of units in buildings with five units or more were at a rate of 121,000 in October.

HOUSING STARTS

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 519,000. This is 11.7 percent (±8.6%) below the revised September estimate of 588,000 and is 1.9 percent (±9.6%) below the October 2009 rate of 529,000.

Single-family housing starts in October were at a rate of 436,000; this is 1.1 percent (±8.6%) below the revised September figure of 441,000. The October rate for units in buildings with five units or more was 74,000.

HOUSING COMPLETIONS

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 613,000. This is 3.2 percent (±15.3%) below the revised September estimate of 633,000 and is 18.4 percent (±11.4%) below the October 2009 rate of 751,000.

Single-family housing completions in October were at a rate of 501,000; this is 2.7 percent (±16.8%) above the revised September rate of 488,000. The October rate for units in buildings with five units or more was 107,000.

 

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