Skip to Content
View site list

Profile

Tenders

Tenders

Click here for free access to Canadian public sector construction bids & RFPs
Economic, US News

Home construction up 4.9% in October to 1.53 million

The Associated Press
Home construction up 4.9% in October to 1.53 million

CHARLOTTE, N.C. — Home construction rose 4.9 per cent in October as homebuilding remains one of the bright spots of the economy.

The increase pushed home construction to a seasonally adjusted annual rate of 1.53 million homes and apartments and followed a more modest gain of 1.9 per cent in September.

Building permits, a good barometer of future activity, remained at a seasonally adjusted rate of 1.55 million annualized units, effectively unchanged from September. The figure remains up 2.8 per cent from a year earlier, showing how strong the housing market was over the summer despite the pandemic.

Several reports over the last two months have shown the housing market cooling off after a tremendous summer, but that is not surprising. The fall and winter are typically slow times for home buying and home construction, mostly due to the weather.

Recent Comments

Your comment will appear after review by the site.

You might also like