Census Bureau releases October residential construction stats

Washington, D.C. — The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2014:

Building permits — Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,080,000. This is 4.8 percent (±1.3%) above the revised September rate of 1,031,000 and is 1.2 percent (±1.2%) above the October 2013 estimate of 1,067,000.

Single-family authorizations in October were at a rate of 640,000; this is 1.4 percent (±1.2%) above the revised September figure of 631,000. Authorizations of units in buildings with five units or more were at a rate of 406,000 in October.

Housing starts — Privately owned housing starts in October were at a seasonally adjusted annual rate of 1,009,000. This is 2.8 percent (±10.0%) below the revised September estimate of 1,038,000, but is 7.8 percent (±8.7%) above the October 2013 rate of 936,000.

Single-family housing starts in October were at a rate of 696,000; this is 4.2 percent (±8.8%)* above the revised September figure of 668,000. The October rate for units in buildings with five units or more was 300,000.

Housing completions — Privately owned housing completions in October were at a seasonally adjusted annual rate of 881,000. This is 8.8 percent (±14.7%) below the revised September estimate of 966,000, but is 8.1 percent (±13.0%) above the October 2013 rate of 815,000.

Single-family housing completions in October were at a rate of 585,000; this is 7.4 percent (±9.5%) below the revised September rate of 632,000. The October rate for units in buildings with five units or more was 289,000.