(11-20-18)

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2018: Building Permits – Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,263,000. This is 0.6 percent (±2.4 percent)* below the revised September rate of 1,270,000 and is 6.0 percent (±1.6 percent) below the October 2017 rate of 1,343,000.

Single‐family authorizations in October were at a rate of 849,000; this is 0.6 percent (±2.2 percent)* below the revised September figure of 854,000. Authorizations of units in buildings with five units or more were at a rate of 376,000 in October. Housing Starts – Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,228,000. This is 1.5 percent (±12.9 percent)* above the revised September estimate of 1,210,000, but is 2.9 percent (±10.4 percent)* below the October 2017 rate of 1,265,000. Single‐family housing starts in October were at a rate of 865,000; this is 1.8 percent (±10.8 percent)* below the revised September figure of 881,000. The October rate for units in buildings with five units or more was 343,000. Housing Completions – Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,111,000. This is 3.3 percent (±10.5 percent)* below the revised September estimate of 1,149,000 and is 6.5 percent (±9.2 percent)* below the October 2017 rate of 1,188,000. Single‐family housing completions in October were at a rate of 832,000; this is 1.2 percent (±10.6 percent)* below the revised September rate of 842,000. The October rate for units in buildings with five units or more was 269,000.