New Residential Housing Starts Continue Double Digit Growth
Building permits slide 5.0 percent from August but housing starts climb 15.0 percent.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2011:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 594,000. This is 5.0 percent (±1.3%) below the revised August rate of 625,000, but is 5.7 percent (±2.6%) above the September 2010 estimate of 562,000.
Single-family authorizations in September were at a rate of 417,000; this is 0.2 percent (±1.0%)* below the revised August figure of 418,000. Authorizations of units in buildings with five units or more were at a rate of 158,000 in September.
HOUSING STARTS
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 658,000. This is 15.0 percent (±13.7%) above the revised August estimate of 572,000 and is 10.2 percent (±13.3%)* above the September 2010 rate of 597,000.
Single-family housing starts in September were at a rate of 425,000; this is 1.7 percent (±9.4%)* above the revised August figure of 418,000. The September rate for units in buildings with five units or more was 227,000.
HOUSING COMPLETIONS
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 647,000. This is 2.1 percent (±18.8%)* above the revised August estimate of 634,000 and is 2.1 percent (±16.4%)* above the September 2010 rate of 634,000.
Single-family housing completions in September were at a rate of 428,000; this is 11.6 percent (±11.3%) below the revised August rate of 484,000. The September rate for units in buildings with five units or more was 208,000.
