New Residential Construction Permits Up 4.8% in October

Privately owned housing starts up 7.8 percent year-over-year.

Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,080,000. This is 4.8 percent above the revised September rate of 1,031,000, and 1.2 percent above the October 2013 estimate of 1,067,000.

Single-family authorizations in October were at a rate of 640,000; this is 1.4 percent above the revised September figure of 631,000. Authorizations of units in buildings with five units or more were at a rate of 406,000 in October.

Privately owned housing starts in October were at a seasonally adjusted annual rate of 1,009,000. This is 2.8 percent below the revised September estimate of 1,038,000 but 7.8 percent above the October 2013 rate of 936,000.

Single-family housing starts in October were at a rate of 696,000; this is 4.2 percent above the revised September figure of 668,000. The October rate for units in buildings with five units or more was 300,000.

Privately owned housing completions in October were at a seasonally adjusted annual rate of 881,000. This is 8.8 percent below the revised September estimate of 966,000 but is 8.1 percent above the October 2013 rate of 815,000.

Single-family housing completions in October were at a rate of 585,000; this is 7.4 percent below the revised September rate of 632,000. The October rate for units in buildings with five units or more was 289,000.

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