US housing starts up on month, down on year in Oct

According to data jointly released by the US Census Bureau and the US Department of Housing and Urban Development, total housing starts in the US were at a seasonally adjusted annual rate of 1,228,000 units, up by 1.5% from the revised September estimate of 1,210,000.

However, the latest reading was 2.9% below the September rate of 1,265,000, while the single‐family housing starts in October were 1.8% lower than September at 865,000 units.

In October, building permits were at a seasonally adjusted annual rate of 1,263,000, down by 0.6% from the revised September rate of 1,270,000 and lower by 6% year-on-year. Single‐family authorizations in October were also 0.6% below the revised September figure of 849,000.