October Housing Starts Down 0.3% from September

Year over year, October housing starts are up 16.5 percent.

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 628,000, according a release from the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.3 percent below the revised September estimate of 630,000, but 16.5 percent above the October 2010 rate of 539,000.

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Single-family housing starts in October were at a rate of 430,000, 3.9 percent above the revised September figure of 414,000. The October rate for units in buildings with five units or more was 183,000.

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 653,000. This is 10.9 percent above the revised September rate of 589,000 and 17.7 percent above the October 2010 estimate of 555,000.

Single-family authorizations in October were at a rate of 434,000, 5.1 percent above the revised September figure of 413,000. Authorizations of units in buildings with five units or more were at a rate of 202,000 in October.

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 584,000. This is 5.7 percent below the revised September estimate of 619,000 and 2.8 percent below the October 2010 rate of 601,000.

Single-family housing completions in October were at a rate of 453,000, 7.1 percent above the revised September rate of 423,000. The October rate for units in buildings with five units or more was 129,000.

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