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    Analysis

    November 17, 2016

    Housing Starts Rocket in October led by Multifamily Structures

    Written by Sandy Williams

    Housing starts jumped 25.5 percent in October from September to a seasonally adjusted annual rate of 1,323,000. Starts of multifamily structures of 5 units or more leapt 74.5 percent from the previous month for a rate of 445,000 and were up 28.2 percent year over year. Single family housing starts grew 10.7 percent from September and were up 21.7 percent year over year to a rate of 869,000 units.

    Housing starts were especially strong in the Northeast and Midwest with each posting month over month gains of over 44 percent. The West followed with a gain of 23.2 percent and the South gaining 17.9 percent.

    Sandy Williams

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