- Housing starts 1.311M vs 1.330M estimate. Prior month 1.354M last month revised to 1.353M
- Building permits 1.416M vs 1.430M estimate. Prior month 1.428M last month.
Building Permits
Privately-owned housing units authorized: 1,416,000 (seasonally adjusted annual rate) vs 1,430,000 estimate
0.6% below revised September rate (1,425,000)
7.7% below October 2023 rate (1,534,000)
Single-family authorizations: 968,000
Authorizations of units in buildings with five units or more: 393,000
Housing Starts
Privately-owned housing starts: 1,311,000 (seasonally adjusted annual rate) vs 1,330,000 estimate
3.1% below revised September estimate (1,353,000)
4.0% below October 2023 rate (1,365,000)
Single-family housing starts: 970,000
Units in buildings with five units or more: 326,000
Housing Completions
Privately-owned housing completions: 1,614,000 (seasonally adjusted annual rate)
4.4% below revised September estimate (1,688,000)
16.8% above October 2023 rate (1,382,000)
Single-family housing completions: 986,000
Units in buildings with five units or more: 615,000
Building permits (-7.7%) and housing starts (-4.0%) remain below year-ago levels in an industry that suffers from not having enough supply.
Despite that, completions are higher versus a year ago (16.8%). Go figure.
