Housing starts increased to a seasonally adjusted annual rate of 1.372 million in October, according to the U.S. Department of Commerce, 1.9% above the revised September estimate of 1.346 million. Both single-family and multifamily housing increased 0.2% and 4.9%, respectively, relative to the September figure.
New building permits increased 1.1% during the month to a seasonally adjusted annual rate of 1.487 million but is 4.4% below the October 2022 rate of 1.555 million. Single-family and multifamily permits increased 0.5% and 2.2%, respectively, relative to the September figure.
Housing completions in October were at a seasonally adjusted annual rate of 1.41 million, 4.6% below the revised September estimate but 4.6% above the October 2022 rate.
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