Housing starts edged lower in October; permits gain

Building Permits
Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,650,000. This is 4.0 percent (±1.5 percent) above the revised September rate of 1,586,000 and is 3.4 percent (±1.6 percent) above the October 2020 rate of 1,595,000. Single‐family authorizations in October were at a rate of1,069,000; this is 2.7 percent (±1.2 percent) above the revised September figure of 1,041,000. Authorizations of units in buildings with five units or more were at a rate of 528,000 in October.

Housing Starts
Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,520,000. This is 0.7 percent (±12.2 percent) below the revised September estimate of 1,530,000, but is 0.4 percent (±12.3 percent) above the October 2020 rate of 1,514,000. Single‐family housing starts in October were at a rate of 1,039,000; this is 3.9 percent (±9.5 percent) below the revised September figure of 1,081,000. The October rate for units in buildings with five units or more was 470,000.

Housing Completions
Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,242,000. This is virtually unchanged from (±13.0 percent) the revised September estimate of 1,242,000, but is 8.4 percent (±9.2 percent) below the October 2020 rate of 1,356,000. Single‐family housing completions in October were at a rate of 929,000; this is 1.7 percent (±12.7 percent)* below the revised September rate of 945,000. The October rate for units in buildings with five units or more was 302,000.