Industry News

Housing starts, permits dip in October

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The rate of U.S. housing starts fell an estimated 30.7 percent year-over-year in October, with building-permit authorizations down about 24.3 percent, the U.S. Census Bureau and the Department of Housing and Urban Development reported today. The seasonally adjusted annual rate of starts fell to 529,000 in October, which is about 10.6 percent below the September estimate -- the rate is a projection of the monthly total over a 12-month period, adjusted for typical seasonal fluctuations. Single-family housing starts were down 10.9 percent year-over-year in October and down 6.8 percent from September 2009, according to the latest monthly report. The rate for single-family building-permit authorizations was down 4 percent year-over-year in October and dipped only slightly (-0.2 percent) from September 2009 to October 2009. Regionally, total October housing starts were down 33.2 percent year-over-year in the South, 32.1 percent in the West, 26.3 percent in the Northeast and 23.1 ...