U.S. Census Bureau: Monthly New Residential Construction, October 2023

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2023:

Building Permits

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,487,000. This is 1.1 percent above the revised September rate of 1,471,000, but is 4.4 percent below the October 2022 rate of 1,555,000. Single-family authorizations in October were at a rate of 968,000; this is 0.5 percent above the revised September figure of 963,000. Authorizations of units in buildings with five units or more were at a rate of 469,000 in October.

Housing Starts

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,372,000. This is 1.9 percent (±13.5 percent)* above the revised September estimate of 1,346,000, but is 4.2 percent (±10.0 percent)* below the October 2022 rate of 1,432,000. Single-family housing starts in October were at a rate of 970,000; this is 0.2 percent (±8.8 percent)* above the revised September figure of 968,000. The October rate for units in buildings with five units or more was 382,000.

Housing Completions

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,410,000. This is 4.6 percent (±11.6 percent)* below the revised September estimate of 1,478,000, but is 4.6 percent (±13.2 percent)* above the October 2022 rate of 1,348,000. Single-family housing completions in October were at a rate of 993,000; this is 0.9 percent (±12.3 percent)* below the revised September rate of 1,002,000. The October rate for units in buildings with five units or more was 408,000.

The November report is scheduled for release on December 19, 2023. View the full schedule in the Economic Briefing Room: < www.census.gov/economic-indicators/ >. The full text and tables for this release can be found at < www.census.gov/construction/nrc/ >.

To view the original release, click here.

Source: U.S. Census Bureau