The U.S. Commerce Department released the housing market data today. Housing starts in the U.S. declined 2.8% to 1.009 million annualized rate in October from a 1.038 million pace in September, missing expectations for a decrease to 1.025 million. September's figure was revised up from 1.017 million units.
Building permits in the U.S. increased 4.8% to 1.008 million annualized rate in October from a 1.031 million pace in September, exceeding expectations for a rise to 1.040 million units. September's figure was revised up from 1.018 million units.
The construction of single-family homes rose 4.2% in October. Building permits for single-family homes increased 4.8% in October.
Construction of multifamily buildings dropped 15.4% in October. Permits for multi-family housing climbed 10%.
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