September Housing Starts Decrease 11.9% YOY

Privately owned housing starts down 9 percent compared with August.

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,047,000. This is 9 percent below the revised August estimate of 1,150,000 and 11.9 percent below the September 2015 rate of 1,189,000.

Single-family housing starts in September were at a rate of 783,000; this is 8.1 percent above the revised August figure of 724,000. The September rate for units in buildings with five units or more was 250,000.

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,225,000. This is 6.3 percent above the revised August rate of 1,152,000 and is 8.5 percent above the September 2015 estimate of 1,129,000.

Single-family authorizations in September were at a rate of 739,000; this is 0.4 percent above the revised August figure of 736,000. Authorizations of units in buildings with five units or more were at a rate of 449,000 in September.

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 951,000. This is 8.4 percent below the revised August estimate of 1,038,000 and is 5.8 percent below the September 2015 rate of 1,010,000.

Single-family housing completions in September were at a rate of 687,000; this is 8.8 percent below the revised August rate of 753,000. The September rate for units in buildings with five units or more was 250,000.

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