Housing starts, permits dip in October

South sees largest year-over-year drop in starts

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.