New Residential Construction Rises

Privately‐owned housing units authorized by building permits in October 2021 were 4% above the prior month’s rate and 3.4% above the October 2020 rate.
NAHB rising housing costs

Privately‐owned housing units authorized by building permits in October 2021 were 4% above the prior month’s rate and 3.4% above the October 2020 rate.

Privately‐owned housing units authorized by building permits in October 2021 were at a seasonally adjusted annual rate of 1,650,000, 4% above the revised September rate of 1,586,000 and 3.4% above the October 2020 rate of 1,595,000, according to the U.S. Census Bureau.

Single‐family authorizations in October were at a rate of 1,069,000, 2.7% above the revised September figure of 1,041,000. Authorizations of units in buildings with five units or more were at a rate of 528,000 in October.

Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,520,000, 0.7% below the revised September estimate of 1,530,000 but is 0.4% above the October 2020 rate of 1,514,000.

Single‐family housing starts in October were at a rate of 1,039,000, 3.9% below the revised September figure of 1,081,000. The October rate for units in buildings with five units or more was 470,000.

Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,242,000. This is virtually unchanged from the revised September estimate of 1,242,000, but is 8.4% below the October 2020 rate of 1,356,000.

Single‐family housing completions in October were at a rate of 929,000, 1.7% below the revised September rate of 945,000. The October rate for units in buildings with five units or more was 302,000.

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