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New Residential Construction Rises

Privately‐owned housing units authorized by building permits in October 2021 were 4% above the prior month’s rate and 3.4% above the October 2020 rate.

November 17, 2021

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Privately‐owned housing units authorized by building permits in October 2021 were 4% above the prior month’s rate and 3.4% above the October 2020 rate.

Privately‐owned housing units authorized by building permits in October 2021 were at a seasonally adjusted annual rate of 1,650,000, 4% above the revised September rate of 1,586,000 and 3.4% above the October 2020 rate of 1,595,000, according to the U.S. Census Bureau.

Single‐family authorizations in October were at a rate of 1,069,000, 2.7% above the revised September figure of 1,041,000. Authorizations of units in buildings with five units or more were at a rate of 528,000 in October.

Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,520,000, 0.7% below the revised September estimate of 1,530,000 but is 0.4% above the October 2020 rate of 1,514,000.

Single‐family housing starts in October were at a rate of 1,039,000, 3.9% below the revised September figure of 1,081,000. The October rate for units in buildings with five units or more was 470,000.

Privately‐owned housing completions in October were at a seasonally adjusted annual rate of 1,242,000. This is virtually unchanged from the revised September estimate of 1,242,000, but is 8.4% below the October 2020 rate of 1,356,000.

Single‐family housing completions in October were at a rate of 929,000, 1.7% below the revised September rate of 945,000. The October rate for units in buildings with five units or more was 302,000.

Mark Powell

Mark Powell is MDM's Associate Editor. He is a former mainstream news reporter and editor and has worked in the online, print, radio and TV news industries. Mark earned a bachelor's degree from San Jose State University and a master's degree from California State University, Bakersfield. He has lived and worked in various cities across California, Colorado and Kansas and currently lives in Shafter, California.

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