Tuesday, November 26, 2013

Housing Permits increase to 1.03 million SAAR in October

by Calculated Risk on 11/26/2013 08:30:00 AM

Note: The Census Bureau has announced that the housing starts releases for September and October will be delayed until December 18th.

From the Census Bureau: New Residential Construction in October 2013

Building Permits:
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,034,000. This is 6.2 percent above the September rate of 974,000 and is 13.9 percent above the October 2012 estimate of 908,000.

Single-family authorizations in October were at a rate of 620,000; this is 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 graph shows total and single unit permits since 1960.

Total Housing Permits and Single Family Housing PermitsClick on graph for larger image.

This shows the huge collapse following the housing bubble, and that housing starts have been generally increasing after moving sideways for about two years and a half years.

The increase in permits was mostly due to the volatile multi-family sector.  This is the highest level for permits since 2008.