Housing starts increased to a seasonally adjusted annual rate of 1.530 million in October, according to the U.S. Census Bureau. The increase was 4.9% above the revised September estimate of 1.459 million and is 14.2% above the October 2019 rate of 1.340 million. Single-family home starts increased 6.4% from last month.
Housing starts were mixed across the country, falling in the Northeast (38.6%) but rising in the West (4.2%), South (12.9%) and Midwest (3.3%).
New building permits were 1.545 million in October, unchanged from the previous month, but 2.8% higher year-over-year. Single-family building permits increased 0.6% from the revised September figure.
Housing completions were at a seasonally adjusted annual rate of 1.343 million, down 4.5% from the revised September estimate but 5.4% above the October 2019 rate.
Read the Census release.