By Greg Robb
WASHINGTON (MarketWatch) - New construction of U.S. houses retreated only slightly in October after a strong gain in the previous month, the Commerce Department estimated Thursday. Starts fell 0.3% in October to a seasonally adjusted 628,000 annualized units, stronger than the 605,000 pace expected by economists surveyed by MarketWatch. Starts in September were revised to a 7.6% gain to 630,000 units compared with the initial estimate of a 15% increase to 658,000. Starts of new single-family homes rose in October after falling in the prior month. Starts of large apartment units fell last month after a big gain in September. Building permits, a leading indicator of housing construction, surged 10.9% to a seasonally adjusted annual rate of 653,000. This is the highest level of permits since March 2010.
