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October Housing Starts, Permits, Foreclosures

Was it just last month that Greenspan and David Lereah at the National Association of Realtors were declaring a bottom in housing?
That myth was shattered on November 17th when the Census Bureau released the Residential Construction Report for October 2006.
Building Permits

Building permits fell 6.3 percent to a seasonally adjusted annual rate of 1,535,000.
Building permits fell 28.0 percent from the October 2005 rate of 2,131,000.
Single-family authorizations in October were at a rate of 1,173,000. This is 3.8 percent below the September figure of 1,219,000.

Housing Starts

Housing starts fell 14.6 percent to a seasonally adjusted annual rate of 1,486,000.
Housing starts fell 27.4 percent […]

By Michael Shedlock

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