U.S. Building Permits Move Higher

Figures released Friday south of the border showed privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,297,000.

The joint announcement from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development also revealed that the figure was 5.9% above the revised September rate of 1,225,000 and 0.9% ahead of the October 2016 rate of 1,285,000.

Single-family authorizations in October were at a rate of 839,000; this is 1.9% above the revised September figure of 823,000.

However, the two departments also said privately-owned housing starts in October were at a seasonally-adjusted annual rate of 1,290,000, or 13.7% above the revised September estimate of 1,135,000, but is 2.9% below the October 2016 rate of 1,328,000.