Housing Starts Fell in October

Housing starts fell to a seasonally adjusted annual rate of 1.060 million, 11.0 percent below the revised September estimate of 1.191 million, and 1.8 percent below the October 2014 rate. Housing starts have remained above 1 million for 7 consecutive months.

Housing activity was mixed across regions, rising 10.2 percent in the Northeast and 15.0 percent in the Midwest, while falling 18.6 percent in the South and 16.2 percent in the West.

New building permits rose in October to 1.150 million, up 4.1 percent from September’s estimate and 2.7 percent above the October 2014 estimate.

Housing completions in October were at a seasonally adjusted annual rate of 965,000, 6.0 percent below September’s estimate, but up 5.2 percent from October 2014.

Read the Census release.