U.S. new home construction drags in September
Slight upticks in single-family permits and starts are the bright spot.
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| New home construction in the U.S. took a dip in September, with only single-family permits and starts rising less than 1 percent each. |
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2019:
Building Permits
Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,387,000. This is 2.7 percent (±1.3 percent) below the revised August rate of 1,425,000, but is 7.7 percent (±2.4 percent) above the September 2018 rate of 1,288,000.
Single‐family authorizations in September were at a rate of 882,000; this is 0.8 percent (±0.8 percent)* above the revised August figure of 875,000. Authorizations of units in buildings with five units or more were at a rate of 470,000 in September.
Housing Starts
Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,256,000. This is 9.4 percent (±9.4 percent)* below the revised August estimate of 1,386,000, but is 1.6 percent (±11.6 percent)* above the September 2018 rate of 1,236,000.
Single‐family housing starts in September were at a rate of 918,000; this is 0.3 percent (±9.3 percent)* above the revised August figure of 915,000. The September rate for units in buildings with five units or more was 327,000.
Housing Completions
Privately‐owned housing completions in September were at a seasonally adjusted annual rate of 1,139,000. This is 9.7 percent (±9.2 percent) below the revised August estimate of 1,262,000 and is 1.0 percent (±9.9 percent)* below the September 2018 rate of 1,150,000.
Single‐family housing completions in September were at a rate of 852,000; this is 8.6 percent (±9.3 percent)* below the revised August rate of 932,000. The September rate for units in buildings with five units or more was 285,000.
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