The US Census Bureau and the Department of Housing and Urban Development jointly announced Tuesday that privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 866,000. This is 2.7 percent below the revised September rate of 890,000, but is 29.8 percent above the October 2011 estimate of 667,000. Single-family authorizations in October were at a rate of 562,000; this is 2.2 percent above the revised September figure of 550,000.
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 894,000. This is 3.6 percent above the revised September estimate of 863,000 and is 41.9 percent above the October 2011 rate of 630,000. Single-family housing starts in October were at a rate of 594,000, 0.2 percent below the revised September figure of 595,000.
Privately-owned housing completions in October were at a seasonally adjusted annual rate of 772,000. This is 14.5 percent above the revised September estimate of 674,000 and is 33.6 percent above the October 2011 rate of 578,000. Single-family housing completions in October were at a rate of 542,000 3.4 percent above the revised September rate of 524,000.