U.S. privately-owned housing starts in October rose 4.9% from September to a new seasonally adjusted annual rate of 1,530,000, according to the Department of Commerce press release. October rate was higher than expected 1,460,000. Building permit authorizations remained unchanged at 1.545 million, below the expected 1.568 million.
- Single-family authorizations were 1,120,000, up 0.6% the revised September figure of 1,113,000
- Authorizations of units in buildings with five units or more were 365,000 in October.
- Single-family housing starts were 1,179,000, up 6.4% above the revised September figure of 1,108,000
- October rate for units in buildings with five units or more was 334,000
- Privately-owned housing completions were at a seasonally adjusted annual rate of 1,343,000, down 4.5% from the revised September estimate of 1,406,000
- Single-family housing completions were 883,000, down 3.4% from the revised September rate of 914,000.
- The October rate for units in buildings with five units or more stood at 444,000.
SPDR S&P Homebuilders ETF is currently gaining. XHB is up 0.56%