The 2020 Mid-Year Economic Update_long

Residential Building Permits Up 8.1% in September

Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.
Residential construction September 2020

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% above the revised August rate of 1,476,000 and is 8.1% 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% 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.

Privately owned housing starts in September were at a seasonally adjusted annual rate of 1,415,000. This is 1.9% above the revised August estimate of 1,388,000 and is 11.1% 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% above the revised August figure of 1,021,000. The September rate for units in buildings with five units or more was 295,000.

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,413,000. This is 15.3% above the revised August estimate of 1,226,000 and is 25.8% 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% 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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