The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for October 2015. According to the data, building permits for privately-owned housing units in October were at a seasonally adjusted annual rate of 1,150,000, up 4.1 percent from the revised September rate of 1,105,000 and up 2.7 percent from the October 2014 rate of 1,120,000. Building permits for single-family housing in October were estimated at 711,000, up 2.4 percent from the revised September rate of 694,000. Building permits for units in buildings with five units or more in October were at a rate of 405,000.
Privately-owned housing starts were at an adjusted rate of 1,060,000 in October, down 11.0 percent from the previous month’s revised estimate of 1,191,000 and down 1.8 percent from the October 2014 rate of 1,079,000. Single-family housing starts were at a rate of 722,000 in October, down 2.4 percent from the revised September rate of 740,000. Starts for units in buildings with five units or more had an October rate of 327,000.
As for housing completions, the October rate for privately-owned housing was at a seasonally adjusted annual estimate of 965,000, a decrease of 6.0 percent from the revised September rate of 1,027,000, but is up 5.2 percent from the October 2014 estimate of 917,000. Single-family housing completions were at a rate of 640,000 for October, putting it 0.5 percent below the revised September rate of 643,000. The housing completion rate for units in buildings with five units or more was at 318,000 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 2015.