Single‐family housing starts in October were at a rate of 970,000, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This represents a 0.2% uptick from the revised September figure of 968,000.
Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1.37 million, up 1.9% from the revised September estimate of 1.34 million but also 4.2% below the October 2022 rate of 1.43 million.
Single‐family authorizations in October were at a rate of 968,000, up 0.5% from the revised September figure of 963,000. Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1.48 million, up 1.1% from the revised September rate of 1.47 million but also 4.4% below the October 2022 rate of 1.55 million.
Single‐family housing completions in October were at a rate of 993,000, a 0.9% drop from the revised September rate of 1 million. Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1.41 million, down 4.6% from the revised September estimate of 1.47 million but also 4.6% above the October 2022 rate of 1.34 million.
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Here is the biggest reason the markets have been getting inflated the last 10 years. I wish they would use science and find something other than concrete. It is the biggest cash grab of the Florida industry.