Housing Starts and Completions Strong in October

October was more treat than trick for home builders, bringing hope in a time of housing market uncertainty. Housing starts and housing completion numbers are way up from October 2018, and the number of building permits had its strongest month in over a decade.

• October housing starts rose 3.8% from September to a seasonally adjusted annual rate of 1.31 million units. That’s 8.5% above October 2018, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Single‐family housing starts in October climbed 2% month-over-month.
• Building permits in October grew 5% from the revised September figure to 1.46 million (SAAR) units. That’s up 14.1% from October 2018 and the strongest reading since May 2007.
• Housing completions in October increased 10.3% from September to 1.26 million units (SAAR). That’s up 12.4% from a year earlier.

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