Photo via Calculated Risk
According to Calculated Risk, housing starts dropped to a 1.246 million annual rate in October, marking a notable decline from year-ago levels. The Census Bureau's latest data release revealed that total starts were down 7.8% when compared to October 2024, continuing a trend of softness in the residential construction sector.
The Census Bureau has been releasing housing data on a delayed schedule, with September and October start figures released together during the reporting period. However, data for November remains outstanding as the agency continues to process and verify recent monthly metrics.
Month-to-month comparisons between 2024 and 2025 activity levels show a persistent weakness in residential construction starts as the year began. The broader trend in housing activity reflects ongoing challenges in the construction market, including labor constraints and elevated financing costs that continue to pressure builder confidence and project initiation rates.
