Housing Starts Flatten, Permits Promise Future Improvement

Residential construction numbers were mixed in October.

Permits for residential construction were issued at a seasonally adjusted annual rate of 1.650

million compared to 1.586 million in September, an increase of 4.0 percent.

Permitting activity was at the top of the range of forecasts from analysts polled by Econoday.

Single-family permits were up 2.7 percent from September, but down 6.3 percent from the prior October at 1.069 million units.

Over the first 10 months of 2021 there were permits issued for 1.439 million residential units, an increase of 20 percent from 1.199 million at the same point in 2020.

 

On an unadjusted basis, construction was begun on 131.000 residential units in October compared to 133,300 in September.