MNI: 5 Things We Learned From The Residential Construction Data>

By Kevin Kastner, Sara Haire, and Holly Stokes

     WASHINGTON (MNI) - The following are the key points from the 

October new residential construction data released Friday by the 

Commerce Department: 

     - October housing data very strong, more than offsetting the 

September hurricane dips. Housing starts +13.7% to 1.290 million rate, 

well above expectations for 1.190 million and the highest since October 

2016. 

     - Permits +5.9% to 1.297 million rate, also ahead of expectations 

for 1.245 million and the highest since January.  

     - Starts were +17.2% in the South region after a 9.1% September 

hurricane-related dip. Starts +42.2% in NE on multi-family gain, +18.4% 

in MW, and -3.7% in West. 

     - Single-family housing starts +5.3% in October, multi-family 

+36.8%. For permits, single-family +1.9%, multi-family +13.9%.

     - Homes permitted but not started +1.3%, so starts could rise 

further in near future. Homes under construction +0.9% and completions 

+12.6% to 10-year high, so supply of new homes for sale should rise. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]