US housing completions in October were markedly below the year-ago level, according to data from the US Census Bureau and Department of Housing and Urban Development Nov. 17.
October housing completions were unchanged from the revised September estimate of 1.242 million units, but were 8.4% lower than the October 2020 rate of 1.356 million units.
October housing starts were at a seasonally adjusted annual rate of 1.52 million units, a slight decrease of 0.7% compared with September’s revised estimate of 1.53 million units. Still, housing starts were 0.4% above the October 2020 rate of 1.514 million units.
US privately owned housing units authorized by building permits increased month on month, rising 4% from September to 1.65 million units. This was 3.4% above the October 2020 rate of 1.595 million units.
— Ingrid Lexova