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New Home Construction Slows In The Midwest

New Home Construction in the Midwest Region of the U.S. slowed in October with new home building permits being used at a seasonally-adjusted annual rate of 102,000 homes, a decline of 3.8% from September but a 4.1% increase from October 2014, according to data released today by the U.S. Census Bureau and HUD.  Year to date for 2014, through October, there have been 89,100 permits issued for new homes, down very slightly from the same time last year when there had been 89,400 new home permits issued.

New Home Starts Fall Dramatically In The Midwest In October-

Construction began on new homes in the midwest in October at a seasonally-adjusted annual rate of 94,000 homes, down 21% from September and down 7.8% from October 2013.

New Home Completions Decline In The Midwest In October-

New homes were completed in the midwest region in October at a seasonally-adjusted annual rate of 99,000 homes, down 6.6% from the month before and down 2% from October 2013.

On a national level, new home permits were issued in October at a seasonally adjusted annual rate of 640,000 homes, an increase of 1.4% from the month before and an increase of 2.4% from October 2013.    Year to date for 2014, there have been 541,300 building permits issued for new single-family homes nationwide, an increase of 1.4% from the same time last year.

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