October New Housing Starts Up 13.7%

November 17, 2017

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development released its data for new residential construction statistics for October 2017 today.

Starts - 37.4 percent higher in Northeast region

Privately owned housing starts in October were at a seasonally adjusted annual rate of 1,290,000. This is 13.7 percent above the revised September estimate of 1,135,000, but is 2.9 percent below the October 2016 rate of 1,328,000.

  • Single-family housing starts in October were at a rate of 877,000, 5.3 percent above the revised September figure of 833,000.
  • The October rate for units in buildings with five units or more was 393,000.
  • Northeast region strongest with a 37.4 percent hike from September.

Completions - Up 15.5 percent over last year

Privately owned housing completions in October were at a seasonally adjusted annual rate of 1,232,000, 12.6 percent above the revised September estimate of 1,094,000 and is 15.5 percent above the October 2016 rate of 1,067,000.

  • Single-family housing completions in October were at a rate of 793,000, 2.6 percent above the revised September rate of 773,000.
  • The October rate for units in buildings with five units or more was 433,000.
  • South region lowest at 7.2 percent completion since September but still up 18.8 percent Y2Y.

Building Permits - 5.9 percent over September's totals

Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,297,000. This is 5.9 percent above the revised September rate of 1,225,000 and is 0.9 percent above the October 2016 rate of 1,285,000.

  • Single-family authorizations in October were at a rate of 839,000; this is 1.9  percent above the revised September figure of 823,000.
  • Authorizations of units in buildings with five units or more were at a rate of 416,000 in October.
  • Greatest one-month increase was in the West, up 13.0 percent.

For all the U.S. Census Bureau October new residential construction data, click here:

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