Housing starts were up in October
The U.S. Census Bureau issued numbers today showing new residential construction rising at a faster pace.
There were were 653,000 building permits for privately-owned housing units in October, a 10.9% increase over September’s 589,000 and is 17.7% above October 2010 estimate of 555,000.
In addition, there were 434,000 single-family unit authorizations in October, a 5.1% increase over September’s 413,000. Authorizations for multi-family units also increased to 202,000 in October.
Housing starts stayed roughly the same as in September, at 628,000 units.
The stronger numbers for housing, together with another dip in unemployment claims last week to 388,000, show more signs of strength in the often-faltering U.S. economy.
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