From RealTrends.com: Housing starts inched lowered in October, according to Commerce Department data, after climbing by double-digits the prior two months. But new residential construction remains at the highest level since March 2010. On a seasonally adjusted basis, starts fell 0.3% to an annual rate of 628,000, from a significantly revised 630,000 for September. Starts for October were 16.5% higher than 539,000 a year earlier.
Analysts polled by Econoday expected housing starts to come in at a rate of 605,000 with a range of estimates between 580,000 and 640,000.
In a joint release, the Census Bureau and Department of Housing and Urban Development said single-family starts climbed 3.9% in October to a seasonally adjusted rate of 430,000 units, up from a revised 414,000 for September.
October’s dip comes on the heels of a 15% increase in September and a 10.5% gain in August. Earlier this year, new home construction decreased by 22.5% in February, which was the largest monthly decline since March 1984.
Building permits in October rose 10.9% to an annual rate of 653,000 from a revised 589,000 for the prior month, and were almost 18% higher than 555,000 a year ago.
Sotheby's International Realty ® is a registered trademark licensed to Sotheby's International Realty Affiliates, Inc. This Web site is not the official Web site of Sotheby's International Realty, Inc. Sotheby's International Realty, Inc. does not make any warranty regarding any information, including without limitation its accuracy or completeness, contained on this site. Equal Housing Opportunity. Visit Sotheby's International Realty 505.988.2533
Design By SantaFeWebDesign.com