Housing Starts & Building Permits Surge in October

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The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,314,000, which is 3.8% above September’s revised estimate and is 8.5% above October, 2018.  Single‐family housing starts in October were at a rate of 936k, which is 2% than September’s revised estimate.  October’s rate for units in buildings with five units or more was 362k.  Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,461,000, which is 5% higher than September’s revised rate and is 14.1% higher than October, 2018.  Single‐family authorizations in October were at a rate of 909, which is 3.2% higher than September’s revised figure.  Authorizations of units in buildings with five units or more were at a rate of 505k.

Click here to read the full report at the U.S. Census Bureau.

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Director of Education & Outreach, National Real Estate Investors Association