Housing starts in October decreased to a seasonally adjusted annual rate of 1.311 million, according to the U.S. Department of Commerce. This is 3.1% below the revised September estimate of 1.353 million and is 4.0% below the October 2023 rate of 1.365 million. Single-family housing grew to a rate of 970,000, 6.9% below the revised September figure of 1,042,000.
New building permits in October decreased to a seasonally adjusted annual rate of 1.416 million, according to the U.S. Department of Commerce. This is 0.6% below the revised September rate of 1.425 million and is 7.7% below the October 2023 rate of 1.534 million. Single-family housing grew to a rate of 968,000, 0.5% above the revised September figure of 963,000.
Housing completions were at a seasonally adjusted annual rate of 1.614 million, 4.4% below the revised September estimate of 1.688 million but is 16.8% above the October 2023 rate of 1.382 million.
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