Housing Market Gaining on Multiple Fronts

December 2016

The U.S. housing market has continued to strengthen throughout this year and October 2016 continued the trend with notable gains in building permits, housing starts and housing completions according to information released by the U.S. Census Bureau.

Single-family building permits were at a rate of 762,000, a 2.7% above the revised September figure of 742,000. Single family housing starts also saw notable gains with an increase in 10.7% above the revised September rate. Single-family housing completion sin October were at a seasonally adjusted annual rate of 749,000, this is a 3.9% increase above the previous month.

Privately-owned housing building permits had a small increase of 0.3% from September, however a 4.6% increase over October 2015. Housing starts were at a seasonally adjusted rate of 1.323 million, a 25.5% increase above September and a 23.3 percent increase over the same month in 2015. Housing completions grew 5.5% over the September rate of 1 million.

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