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Residential construction limps along in September

Single family housing starts climb 4.4 percent but other metrics disappoint.

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The U.S. Census Bureau and the Department of Housing and Urban Development jointly announce the following new residential construction statistics for September 2010:

Building permits
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 539,000. This is 5.6 percent (±1.4%) below the revised August rate of 571,000 and is 10.9 percent (±2.3%) below the September 2009 estimate of 605,000.

Single-family authorizations in September were at a rate of 405,000; this is 0.5 percent (±1.3%)* above the revised August figure of 403,000. Authorizations of units in buildings with five units or more were at a rate of 111,000 in September.

Housing starts
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 610,000. This is 0.3 percent (±10.3%)* above the revised August estimate of 608,000 and is 4.1 percent (±12.0%)* above the September 2009 rate of 586,000.

Single-family housing starts in September were at a rate of 452,000; this is 4.4 percent (±13.9%)* above the revised August figure of 433,000. The September rate for units in buildings with five units or more was 150,000.

Housing completions
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 648,000. This is 7.3 percent (±14.3%)* above the revised August estimate of 604,000, but is 10.1 percent (±13.6%)* below the September 2009 rate of 721,000.

Single-family housing completions in September were at a rate of 501,000; this is 4.8 percent (±14.2%)* above the revised August rate of 478,000. The September rate for units in buildings with five units or more was 138,000.