by All major regions of the country saw double-digit increases, except the South, where completions fell 1.2%
WASHINGTON — Housing completions rose nearly 17% in October from a year earlier as more people readied to move into new homes and potentially purchase new furniture.
According to figures released by the U.S. Department of Commerce on Tuesday, housing completions totaled 1,614,000, 16.8% above 1,382,000 in October 2023. They were down 4.4% from a revised September estimate of 1,688,000.
All regions of the country experienced double-digit year-over-year residential completions except the South, which fell 1.2%, compared with a 68% increase in the Northeast, a 41.7% increase in the West and a 26.2% increase in the Midwest.
Meanwhile, building permits totaled 1,416,000, down 7.7% from 1,534,000 issued in October 2023 and down .6% from a revised September rate of 1,425,000.
Housing starts for the month of October totaled 1,311,000, 4% below 1,365,000 in October 2023 and 3.1% below a revised September estimate of 1,353,000.
Single-family housing completions in October totaled 986,000, or 61% of the total, down 1.4% from a revised September rate of 1,000,000. Single-family building permits issued totaled 968,000, or 68.4% of the total, .5% above the revised September rate of 963,000. Single-family housing starts totaled 970,000, or 74% of the total, down 6.9% from the revised September rate of 1,042,000.
By region, the activity is as follows:
In the Northeast, there were 144,000 residential building permits issued, down 5.9% from 153,000 issued in October 2023 and up 13.4% from 127,000 issued in September. There were 110,000 residential units started, up 39.2% from 79,000 started in October 2023 and down 32.9% from 164,000 started in September. There were 173,000 units completed, up 68% from 103,000 in October 2023 and down 7% from 186,000 in September.
In the Midwest, there were 193,000 permits issued, up 10.9% from 174,000 in October 2023 and down 4% from 201,000 issued in September. There were 197,000 units started, down 7.1% from 212,000 started in October 2023 and up 9.4% from 180,000 in September. There were 212,000 units completed, up 26.2% from 168,000 in October 2023 and up 1% from 210,000 completed in September.
In the South, there were 752,000 permits issued, down 12.8% from 862,000 in October 2023 and down 1.8% from 766,000 in September. There were 666,000 units started, down 7.8% from 722,000 in October 2023 and down 8.8% from 730,000 in September. There were 794,000 units completed, down 1.2% from 804,000 in October 2023 and down 7.6% from 859,000 in September.
In the West, there were 327,000 permits issued, down 5.2% from 345,000 in October 2023 and down 1.2% from 331,000 in September. There were 338,000 units started, down 4% from 352,000 in October 2023 and up 21.1% from 279,000 in September. There were 435,000 units completed, up 41.7% from 307,000 in October 2023 and up .5% from 433,000 in September.
