Building permits rise 6.2% in October
Building permits rose 6.2 percent in October, according to a report from our sister site, Equipment World.
The figures come from new Commerce Department data, which show that building permits rose in October to a seasonally adjusted annual rate of 1.034 million — 13.9 percent higher than a year ago.
Single-family home permits rose 0.8 percent over September to a rate of 620,000, a 9-percent gain over October 2012.
Multi-family home permits jumped 17 percent over September to a rate of 387,000. That’s 24 percent higher than a year ago.
Builder confidence down to a 54 in November, which is still a good indicator for the market.
Equipment World notes that the Commerce Department says it won’t release housing start data for September, October and November until December 18 due to the 16-day partial government shutdown that occurred in October.