U.S. housing shows ongoing improvement in September
Permits run flat for month but every other metric climbs.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2014:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,018,000. This is 1.5 percent (±1.1%) above the revised August rate of 1,003,000 and is 2.5 percent (±1.2%) above the September 2013 estimate of 993,000.
Single-family authorizations in September were at a rate of 624,000; this is 0.5 percent (±1.1%)* below the revised August figure of 627,000. Authorizations of units in buildings with five units or more were at a rate of 369,000 in September.
HOUSING STARTS
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,017,000. This is 6.3 percent (±9.3%)* above the revised August estimate of 957,000 and is 17.8 percent (±14.4%) above the September 2013 rate of 863,000.
Single-family housing starts in September were at a rate of 646,000; this is 1.1 percent (±8.3%)* above the revised August figure of 639,000. The September rate for units in buildings with five units or more was 353,000.
HOUSING COMPLETIONS
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 999,000. This is 8.6 percent (±17.2%)* above the revised August estimate of 920,000 and is 31.3 percent (±23.7%) above the September 2013 rate of 761,000.
Single-family housing completions in September were at a rate of 624,000; this is 1.0 percent (±11.6%)* above the revised August rate of 618,000. The September rate for units in buildings with five units or more was 368,000.
CONTRACTOR SUPPLY MAGAZINE
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