U.S. Housing Starts Soar
U.S. housing starts in October were at a seasonally adjusted annual rate of 1.3 million, jumping 25.5% above the revised September estimate, and 23.3% higher than the same month the year prior. Single-family housing starts in October rose 10.7% from September to 869,000.
October building permits rose 0.3% above September to a seasonally adjusted annual rate of 1,229,000. Permits increased 4.6% from October 2015 to 1,175,000. Single-family authorizations were 2.7% higher than September at 762,000. See U.S. Census Bureau