Housing Permits Rose but Starts Fell in October

Washington, DC, November 18, 2015—Privately-owned housing units authorized by building permits in October were at a rate of 1,150,000, 4.1% above the revised September rate of 1,105,000 and is 2.7% above the October 2014 estimate of 1,120,000, the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced.

Single-family authorizations in October were at a rate of 711,000, 2.4% above the revised September figure of 694,000. Authorizations of units in buildings with five units or more were at a rate of 405,000 in October.

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,060,000, 11.0% below the revised September estimate of 1,191,000 and 1.8% below the October 2014 rate of 1,079,000.

Single-family housing starts in October were at a rate of 722,000, 2.4% below the revised September figure of 740,000. The October rate for units in buildings with five units or more was 327,000.

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 965,000, 6% below the revised September estimate of 1,027,000 but 5.2% above the October 2014 rate of 917,000.

Single-family housing completions in October were at a rate of 640,000, 0.5% below the revised September rate of 643,000. The October rate for units in buildings with five units or more was 318,000.