Keeping you up to date on the latest data releases.
October single-family housing starts rose 3.9 percent from a downwardly revised September figure to a seasonally-adjusted annual rate of 430,000 units. Across the nation, housing started were varied from an 11.3 percent increase in the South to a 10.2 percent decline in the West. On a year-over-year basis, total single-family housing starts were down just 0.9 percent from October 2010, which is a considerable improvement from the 7.4 percent decline in September. Overall single and multi-family housing units were down 0.3 percent from September and up 16.5 percent from October 2010.
The authorization of single-family home construction also improved in October by 434,000 seasonally-adjusted units, which is a 5.1 percent increase from September and a 6.6 percent increase from October 2010. The Northeast showed the most improvement with a 13.1 percent increase in authorizations, while the Midwest fell 4.1 percent which is the first negative month-to-month percent change since February for the region. Total authorizations of single and multi-family housing units were up 10.9 and 17.7 percent from last month and this time last year, respectively.