(Census Bureau) US building permits rose by 4.0% in October from September to mark an annual rate of 1.650 million. The housing permits are now 3.4% higher than October 2020.
Building Permit
Despite the rise in permits, homebuilding remains under pressure due to material shortages and scarcity of labor and land.
Housing starts were still below September by 0.7%, settling at an annual rate of 1.520 million in October. The housing starts are 0.4% above the prior year.
Housing completions remained unchanged from September at 1.242 million. The completions are 8.4% below the prior year.
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