October Building Permits Highest in 5 Years

The U.S. Census Bureau and the Department of Housing and Urban Development said last week that Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,034,000, 6.2 percent above the September rate of 974,000. The activity is also 13.9 percent above the October 2012 estimate of 908,000, and the highest level in over five years, according to media sources.

Single-family authorizations in October were at a rate of 620,000, 0.8 percent above the September figure of 615,000. Authorizations of units in buildings with five units or more were at a rate of 387,000 in October.

The agency delayed release new housing starts due to the recent shutdown of the Federal government.

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