Multi-family housing starts rise 6.5 percent in September
Completions rise 7.5 percent, but permits dip 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 2015:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,103,000. This is 5.0 percent (±1.4%) below the revised August rate of 1,161,000, but is 4.7 percent (±2.0%) above the September 2014 estimate of 1,053,000.
Single-family authorizations in September were at a rate of 697,000; this is 0.3 percent (±1.9%)* below the revised August figure of 699,000. Authorizations of units in buildings with five units or more were at a rate of 369,000 in September.
HOUSING STARTS
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,206,000. This is 6.5 percent (±16.4%)* above the revised August estimate of 1,132,000 and is 17.5 percent (±18.0%)* above the September 2014 rate of 1,026,000.
Single-family housing starts in September were at a rate of 740,000; this is 0.3 percent (±9.6%)* above the revised August figure of 738,000. The September rate for units in buildings with five units or more was 454,000.
HOUSING COMPLETIONS
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,028,000. This is 7.5 percent (±13.6%)* above the revised August estimate of 956,000 and is 8.4 percent (±18.7%)* above the September 2014 rate of 948,000.
Single-family housing completions in September were at a rate of 643,000; this is 1.8 percent (±9.9%)* below the revised August rate of 655,000. The September rate for units in buildings with five units or more was 378,000.
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