The US Census Bureau and the US Department of Housing and Urban Development jointly announced that privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,487,000. This is 1.1 percent above the revised September rate of 1,471,000, but is 4.4 percent below the October 2022 rate of 1,555,000.
Single‐family authorizations in October were at a rate of 968,000; this is 0.5 percent above the revised September figure of 963,000. Authorizations of units in buildings with five units or more were at a rate of 469,000 in October.
Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,372,000. This is 1.9 percent (±13.5 percent) above the revised September estimate of 1,346,000, but is 4.2 percent (±10.0 percent) below the October 2022 rate of 1,432,000.
Single‐family housing starts in October were at a rate of 970,000; this is 0.2 percent (±8.8 percent) above the revised September figure of 968,000. The October rate for units in buildings with five units or more was 382,000.
Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,410,000. This is 4.6 percent (±11.6 percent) below the revised September estimate of 1,478,000, but is 4.6 percent (±13.2 percent) above the October 2022 rate of 1,348,000.
Single‐family housing completions in October were at a rate of 993,000; this is 0.9 percent (±12.3 percent) below the revised September rate of 1,002,000. The October rate for units in buildings with five units or more was 408,000.