Housing Starts Fall 10.6% in October

By MDM Staff

November 20, 2009

More about: Building Materials/Construction, Economy

Permits were 4% below September and 24.3% below October.

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 529,000, 10.6% below September and 30.7% below October 2008, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Single-family housing starts were at a rate of 476,000, 6.8% below September. The October rate for units in buildings with five units or more was 48,000.

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 552,000, 4% below September and 24.3% below October 2008.

Single-family authorizations in October were at a rate of 451,000. 0.2% below September. Authorizations of units in buildings with five units or more were at a rate of 85,000 in October.

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 740,000. This is 1.9% above September, but 29.9% below October 2008.

Single-family housing completions in October were at a rate of 528,000, 10.7% above September. The October rate for units in buildings with five units or more was 200,000.

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