New Residential Construction Statistics for October 2014

November 19, 2014

Construction Law


The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for October 2014.  According to the data, building permits for privately-owned housing units in October were at a seasonally adjusted annual rate of 1,080,000, up 4.8 percent from the revised September rate of 1,031,000 and up 1.2 percent from the October 2013 rate of 1,067,000.  Building permits for single-family housing in October were estimated at 640,000, up 1.4 percent from the revised September rate of 631,000.  Building permits for units in buildings with five units or more in October were at a rate of 406,000.

Privately-owned housing starts were at an adjusted rate of 1,009,000 in October, down 2.8 percent from the previous month’s revised estimate of 1,038,000, but are up 7.8 percent from the October 2013 rate of 936,000.  Single-family housing starts were at a rate of 696,000 in October, up 4.2 percent from the revised September rate of 668,000.  Starts for units in buildings with five units or more had an October rate of 300,000.

As for housing completions, the October rate for privately-owned housing was at a seasonally adjusted annual estimate of 881,000, a decrease of 8.8 percent from the revised September rate of 966,000, but is up 8.1 percent from the October 2013 estimate of 815,000. Single-family housing completions were at a rate of 585,000 for October, putting it 7.4 percent below the revised September rate of 632,000. The housing completion rate for units in buildings with five units or more was at 289,000 in October.

For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for October 2014.