# U.S. residential building permits reach 1 million, a 5-year high



## mark handler (Nov 27, 2013)

U.S. residential building permits reach 1 million, a 5-year high

http://www.latimes.com/business/money/la-fi-mo-us-residential-building-permits-20131126,0,1160085.story#axzz2lo9K0eSB

By Ricardo Lopez

November 26, 2013, 7:40 a.m.

The number of U.S. residential building permits issued in October surpassed 1 million, the highest level in five years, the Commerce Department reported Tuesday.

Building permits in October were up 6.2% from the month before, reaching 1,034,000, government figures show. That's up 13.9% from October of last year.

Data for the number of housing starts were not included with the report due to the partial government shutdown last month. The release of those figures has now been pushed to Dec. 18.

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Nonetheless, the building permits data are a good barometer of the overall state of residential construction, which has been strong over the past year.

Single-family home permits slowed to 620,000, the report said. Meanwhile, multi-family housing permits jumped 15.3% in October from the month before, reaching 414,000.

The housing recovery in recent months has boosted home prices, spurred new construction and generated consumer spending at hardware stores such as Home Depot and Lowe's.

But the pace appears to be slowing, economists said.

"This was a mixed report," economists from IHS Global Insight wrote in a note. "Despite strong October numbers, a three-month moving average of both single- and multifamily permits shows that construction is slowing."

However, Patrick Newport and Stephanie Karol, the IHS economists, said it's unclear why housing permits have slowed recently. In a note, they said it's possible that a lack of developed land to build on is delaying the housing recovery.

ALSO:

Home affordability falls as prices rise

U.S. homeownership at 1995 levels despite rebound

Pending home sales in U.S. drop to 10-month low in October

http://www.latimes.com/business/money/la-fi-mo-us-residential-building-permits-20131126,0,1160085.story#ixzz2lo9TGNWS


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## jar546 (Nov 27, 2013)

Good news that I expected to hear.  I am sure, however that FOX news won't be releasing that information since they are a socialist news organization run by billionaires.  OK just had to throw that in because it does not violate my religion or politics rules


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## mark handler (Nov 27, 2013)

jar546 said:
			
		

> a socialist news organization


I won't go that far. Though they do give a distorted view


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## jar546 (Nov 27, 2013)

mark handler said:
			
		

> I won't go that far. Though they do give a distorted view


Yes, I did go a little over the top with that.  I still don't consider them a news organization anyway.  Fair and Balanced my *****


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## RJJ (Nov 29, 2013)

Fair and balanced? It all depends on one vantage point.


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## mark handler (Nov 29, 2013)

RJJ said:
			
		

> It all depends on one vantage point.


Head or Tail of the donkey suit.....

Or do some need glasses.....

Or better living through pharmaceuticals....


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