News

Building permits fell 0.6% in October and 7.7% over the year. Permits for single-family homes rose 0.5% in October but declined 1.8% over the year. Permits for buildings with five or more units fell 3.0% from September and plummeted 20.9% over the year.

In October, housing starts decreased 3.1% over the month and 4.0% over the year. Additionally, starts for single-family homes fell 6.9% from September but just 0.5% from October 2023. Meanwhile, starts for buildings with five or more units increased 9.8% from September but declined 12.6% over the year.

Housing completions decreased 4.4% from September but jumped 16.8% from October 2023. Single-family home completions fell 1.4% from September and 0.2% over the year. Completions for buildings with five or more units dropped 9.0% over the month but soared an incredible 61.4% from October 2023.