U.S. Housing Starts Continue Upward Trek
U.S. housing starts in October increased 2% from September to a seasonally adjusted rate of 1.372 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report. Single-family starts were at a rate of 970,000, about even with September, while multi-family starts were 382,000, an increase of 5%.
Building permits were 1.487 million, up a percent over September, with single-family at 968,000, a half percent increase, and multi-family was 469,000, an increase of 2.2%.
Housing completions were at an annual rate of 1.410 million, down 4.6% from September, with single-family at 993,000, a percent below September, and multi-family at 408,000, a decrease of 12.6%.
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