Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1.229 million, 3 percent above the revised September estimate of 1.193 million, but 16.4 percent below the revised October 2006 rate of 1.47 million.
Single-family housing starts in October were at a rate of 884,000; this is 7.3 percent below the September figure of 954,000. The October rate for units in buildings with five units or more was 312,000.
Privately-owned housing units authorized by building permits in October were at a rate of 1.17 million, 6.6 percent below the revised September rate of 1.26 million and is 24.5 percent below the revised October 2006 estimate of 1.56 million.
Single-family authorizations in October were at a rate of 807,000; this is 8.0 percent below the September figure of 877,000. Authorizations of units in buildings with five units or more were at a rate of 330,000 in October.
Housing completions increased to 1.43 million in October, 1.9 percent above the September estimate of 1.40 million, but 25.2 percent below the revised October 2006 rate of 1.91 million.
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