In the latest U.S. government housing report for the month of October, building permits issued in October rose compared with September, while construction starts fell and the number of completed homes rose.
Privately-owned housing units authorized by building permits in October rose by 4 percent to a 575,000 annual rate compared with September, but still below October’s figures a year ago of 729,000 permits issued, according ot figures released today from the U.S. Commerce Department.
Construction of new private housing units fell in October by 10.6 percent to an annual rate of 529,000, compared with September, however. Housing construction for new units was also lower compared to a year ago when construction began at a rate of 763,000.
Housing completions were up 10.7 percent from September to 740,000 but still below last year’s rate of 1,055,000.