The 2020 Mid-Year Economic Update_long

Residential Building Permits Down 6% in October

Housing starts fell 0.6 percent compared to September, according to U.S. Census Bureau data.

Privately owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,263,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 0.6 percent below the revised September rate of 1,270,000 and is 6 percent below the October 2017 rate of 1,343,000. Single‐family authorizations in October were at a rate of 49,000; this is 0.6 percent below the revised September figure of 854,000. Authorizations of units in buildings with five units or more were at a rate of 376,000 in October.

\"HousingPrivately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,228,000. This is 1.5 percent above the revised September estimate of 1,210,000 but is 2.9 percent below the October 2017 rate of 1,265,000. Single‐family housing starts in October were at a rate of 865,000; this is 1.8 percent below the revised September figure of 881,000. The October rate for units in buildings  with five units or more was 343,000.

Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,111,000. This is 3.3 percent below the revised September estimate of 1,149,000 and is 6.5 percent below the October 2017 rate of 1,188,000. Single‐family housing completions in October were at a rate of 832,000; this is 1.2 percent below the revised September rate of 842,000. The October rate for units in buildings with five units or more was 269,000.

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