U.S. Single-Family Starts Jump for Sixth Month In Row
U.S. housing starts continue to flourish, rising in October to a seasonally adjusted rate of 1.530 million, a 4.9% increase over September and a whopping 14.2% hike compared to October 2019, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
Single-family starts in October were 1.179 million, up 6.4% from September and an amazing 29.4% over October a year ago.
Multi-family starts, however, continued a downward trend, at 334,000, a 3.2% dip from September and nearly 20% lower than October 2019.
U.S. single-family starts have now increased six consecutive months, since the low of 679,000 during the pandemic shutdown in April.
Housing building permits in October were at 1.545 million, nearly the same as September and 2.8% above October 2019. Single-family permits in October were 1.120 million, a percent above September and 20.6% above October 2019.
Multi-family permits were 365,000 in October, down 6% from September.
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