US: Building permits in October were at 1,297,000, 5.9% above September

"Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,297,000," the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on Friday.

Key takeaways

This is 5.9 percent above the revised September rate of 1,225,000 and is 0.9 percent above the October 2016 rate of 1,285,000.

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

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,290,000.

This is 13.7 percent above the revised September estimate of 1,135,000, but is 2.9 percent below the October 2016 rate of 1,328,000.

Single-family housing starts in October were at a rate of 877,000; this is 5.3 percent above the revised September figure of 833,000.

The October rate for units in buildings with five units or more was 393,000.