The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential
construction statistics for October 2008:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 708,000.
This is 12.0 percent (±1.8%) below the revised September rate of 805,000 and is 40.1 percent (±1.6%) below the revised October
2007 estimate of 1,182,000.
Single-family authorizations in October were at a rate of 460,000; this is 14.5 percent (±1.5%) below the September figure of
538,000. Authorizations of units in buildings with five units or more were at a rate of 218,000 in October.
HOUSING STARTS
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 791,000. This is 4.5 percent (±16.0%)* below
the revised September estimate of 828,000 and is 38.0 percent (±7.7%) below the revised October 2007 rate of 1,275,000.
Single-family housing starts in October were at a rate of 531,000; this is 3.3 percent (±9.5%)* below the September figure of 549,000.
The October rate for units in buildings with five units or more was 247,000.
HOUSING COMPLETIONS
Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,043,000. This is 10.2 percent
(±11.9%)* below the revised September estimate of 1,161,000 and is 25.6 percent (±7.3%) below the revised October 2007 rate of
1,401,000.
Single-family housing completions in October were at a rate of 760,000; this is 7.7 percent (±9.2%) below the September figure of
823,000. The October rate for units in buildings with five units or more was 269,000. |
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