U.S. housing sizzles in September
Single-family starts rise 8.5 for month; permits climb 7.8 percent and privately-owned completions rocket 15.3 percent month-over-month.
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 2020:
Building Permits
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,553,000. This is 5.2 percent (±1.6 percent) above the revised August rate of 1,476,000 and is 8.1 percent (±1.8 percent) above the September 2019 rate of 1,437,000.
Single-family authorizations in September were at a rate of 1,119,000; this is 7.8 percent (±1.1 percent) above the revised August figure of 1,038,000. Authorizations of units in buildings with five units or more were at a rate of 390,000 in September.
Housing Starts
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,415,000. This is 1.9 percent (±8.8 percent)* above the revised August estimate of 1,388,000 and is 11.1 percent (±11.3 percent)* above the September 2019 rate of 1,274,000.
Single-family housing starts in September were at a rate of 1,108,000; this is 8.5 percent (±9.2 percent)* above the revised August figure of 1,021,000. The September rate for units in buildings with five units or more was 295,000.
Housing Completions
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,413,000. This is 15.3 percent (±11.4 percent) above the revised August estimate of 1,226,000 and is 25.8 percent (±11.5 percent) above the September 2019 rate of 1,123,000.
Single-family housing completions in September were at a rate of 921,000; this is 2.1 percent (±9.0 percent)* above the revised August rate of 902,000. The September rate for units in buildings with five units or more was 480,000.
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