New home starts shift to single-family in September
Single-family starts rise 8.1 percent while privately-owned starts slide 9 percent for month.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2016:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,225,000. This is 6.3 percent (±1.9%) above the revised August rate of 1,152,000 and is 8.5 percent (±2.4%) above the September 2015 estimate of 1,129,000.
Single-family authorizations in September were at a rate of 739,000; this is 0.4 percent (±1.6%)* above the revised August figure of 736,000. Authorizations of units in buildings with five units or more were at a rate of 449,000 in September.
HOUSING STARTS
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,047,000. This is 9.0 percent (±9.2%)* below the revised August estimate of 1,150,000 and is 11.9 percent (±11.9%) below the September 2015 rate of 1,189,000.
Single-family housing starts in September were at a rate of 783,000; this is 8.1 percent (±7.4%) above the revised August figure of 724,000. The September rate for units in buildings with five units or more was 250,000.
HOUSING COMPLETIONS
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 951,000. This is 8.4 percent (±10.3%)* below the revised August estimate of 1,038,000 and is 5.8 percent (±13.4%)* below the September 2015 rate of 1,010,000.
Single-family housing completions in September were at a rate of 687,000; this is 8.8 percent (±9.8%)* below the revised August rate of 753,000. The September rate for units in buildings with five units or more was 250,000.
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