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Housing Starts Rise In October




Housing StartsThe U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2016

BUILDING PERMITS

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,229,000. This is 0.3 percent above the revised September rate of 1,225,000 and is 4.6 percent above the October 2015 estimate of 1,175,000.

Single-family authorizations in October were at a rate of 762,000; this is 2.7 percent above the revised September figure of 742,000. Authorizations of units in buildings with five units or more were at a rate of 439,000 in October.

HOUSING STARTS

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,323,000. This is 25.5 percent above the revised September estimate of 1,054,000 and is 23.3 percent above the October 2015 rate of 1,073,000.

Single-family housing starts in October were at a rate of 869,000; this is 10.7 percent above the revised September figure of 785,000. The October rate for units in buildings with five units or more was 445,000.

HOUSING COMPLETIONS

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,055,000. This is 5.5 percent above the revised September estimate of 1,000,000 and is 7.2 percent above the October 2015 rate of 984,000.

Single-family housing completions in October were at a rate of 749,000; this is 3.9 percent above the revised September rate of 721,000. The October rate for units in buildings with five units or more was 300,000.

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