New Residential Permits Top One Million in October
Privately-owned permits rise 13.9 percent over last year.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2013:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,034,000, their highest level since 2008. This is 6.2 percent (±0.8%) above the September rate of 974,000 and is 13.9 percent (±1.1%) above the October 2012 estimate of 908,000.
Single-family authorizations in October were at a rate of 620,000; this is 0.8 percent (±0.9%)* above the September figure of 615,000.
Authorizations of units in buildings with five units or more were at a rate of 387,000 in October.
HOUSING STARTS and HOUSING COMPLETIONS
The lapse in federal funding affected the data collection schedule for the Survey of Construction, the source of data on new housing units started and completed. Accurate data collection for September and October could not be completed in time for this release. Data on housing units started and completed in September, October, and November 2013 will be released on December 18, 2013.
HOUSING PRICES
In related news, U.S. single-family home prices rose in September and posted their strongest annualized gain in 7-1/2 years.
CONTRACTOR SUPPLY MAGAZINE
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