Housing Permits Surge in October

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 653,000, 10.9 percent above the revised September rate of 589,000 and 17.7 percent above the October 2010 estimate of 555,000, according to the U.S. Census Department. Single-family authorizations in October were at a rate of 434,000, 5.1 percent above the revised September figure of 413,000.

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 628,000, 0.3 percent below the revised September estimate of 630,000, but 16.5 percent above the October 2010 rate of 539,000. Single-family housing starts in October were at a rate of 430,000, 3.9 percent above the revised September figure of 414,000. The October rate for units in buildings with five units or more was 183,000.