U.S. housing starts on the rise

WASHINGTON — Privately owned U.S. housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,229,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This rate is 0.3% above the revised September rate of 1,225,000 and is 4.6% above the October 2015 estimate of 1,175,000. Housing starts were at a SAAR of 1,323,000, which is 25.5% above the revised September estimate of 1,054,000 and 23.3% above the October 2015 rate of 1,073,000.