Residential construction limps along in September
Single family housing starts climb 4.4 percent but other metrics disappoint.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announce the following new residential construction statistics for September 2010:
Building permits
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 539,000. This is 5.6 percent (±1.4%) below the revised August rate of 571,000 and is 10.9 percent (±2.3%) below the September 2009 estimate of 605,000.
Single-family authorizations in September were at a rate of 405,000; this is 0.5 percent (±1.3%)* above the revised August figure of 403,000. Authorizations of units in buildings with five units or more were at a rate of 111,000 in September.
Housing starts
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 610,000. This is 0.3 percent (±10.3%)* above the revised August estimate of 608,000 and is 4.1 percent (±12.0%)* above the September 2009 rate of 586,000.
Single-family housing starts in September were at a rate of 452,000; this is 4.4 percent (±13.9%)* above the revised August figure of 433,000. The September rate for units in buildings with five units or more was 150,000.
Housing completions
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 648,000. This is 7.3 percent (±14.3%)* above the revised August estimate of 604,000, but is 10.1 percent (±13.6%)* below the September 2009 rate of 721,000.
Single-family housing completions in September were at a rate of 501,000; this is 4.8 percent (±14.2%)* above the revised August rate of 478,000. The September rate for units in buildings with five units or more was 138,000.
