New residential construction numbers were up in October 2016, reports the U.S. Department of Housing and Urban Development.
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,323,000. This is 25.5% above the revised September estimate of 1,054,000 and is 23% above the reported rate for October 2015. Single building permits and housing completions (also seasonally adjusted) were also up from September’s reported numbers as well as above rates reported for 2015.