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Housing starts drop 2.8% in October but permits up

Housing starts unexpectedly dropped in October but the number of building permits accelerated. The latest report on housing starts from the Census showed that the pace of housing starts fell 2.8%.

U.S. housing starts fall 2.8% in October. The permits rate rose 1.4% for single-family homes, and 8% for apartments. Economists caution over reading too much into a single monthly home-construction report. A confidence interval of plus or minus 10% for October’s overall starts drop of 2.8% shows that the government isn’t sure whether the pace of construction rose or fell last month.

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2012-11-20  · U.S. housing starts hit four-year high in October. 3. by pent-up demand. compared to October last year. Housing starts are now about 40.

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Housing Starts Drop 6% in September Washington, October 19-Housing starts fell much more than expected during September, but permits for future building posted a surprise increase.

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October Starts Up, Permits Down Economics. Posted on. 2.8% above September. The October rate for units in buildings with five units or more was 247,000.. BUILDER Housing Starts Drop.

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The US Commerce Department said Tuesday US housing starts rose to a. by the November decline of the NAHB/Wells Fargo Housing Market Index, million existing homes available for sale, but that represents an increase. US existing homes-for-sale inventory was up +2.8% year-over-year in October.

Construction on new houses fell slightly in June and permits posted an even. in June and there's little sign construction will speed up anytime soon.. Economists polled by MarketWatch had expected housing starts to drop to a seasonally. But they are still 25% higher compared to a year ago, reflecting.

The Commerce Department reported that privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000. This is 4.7% below October’s rate of 1,260,000 and is 6.6% below November 2015. Single-family authorizations in November were at a rate of 778k; this is 0.5% above October’s figure of 774k.

Single-family housing production in October reached its highest level since November 2013 while the more volatile multifamily sector brought combined nationwide starts activity down 2.8% to a seasonally adjusted annual rate of 1.009 million units, according to newly released figures from the HUD and the U.S. Census Bureau.