US housing starts decline by 0.7% in October

Housing starts in the United States fell by 0.7% in October in comparison to the month before’s revised level to stand at a seasonally adjusted annual rate of 1,520,000, missing out on market expectations, the US Census Bureau revealed in its report published on Wednesday. On an annual level, the figure went up by 0.4%.

Privately‐owned housing completions stood at a seasonally adjusted annual rate of 1,242,000, remaining virtually unchanged compared to the previous month but declining by 8.4% in contrast with October 2020.

Privately‐owned housing units authorized by building permits landed at a seasonally adjusted annual rate of 1,650,000, rising by 4.0% month-on-month and 3.4% year-on-year.

Breaking the News / JR