The Commerce Department reported that 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% above September’s rate of 1,225,000 and is 4.6% above October 2015. Single-family authorizations in October were at a rate of 762k; this is 2.7% above September’s 742K. Authorizations of units in buildings with five units or more were 439k in October. Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,323,000. This is 25.5% above September’s number and is 23.3% higher than October 2015. Single-family housing starts in October were 869k – which is 10.7% higher than September. The October rate for units in buildings with five units or more was 445k.
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