Housing starts decreased to a seasonally adjusted annual rate of 1.256 million in September, according to the U.S. Department of Commerce. The decline was 9.4 percent below the revised August rate of 1.386 million but is 1.6 percent above the September 2018 rate. Single-family home starts increased 0.3 percent from last month.
Housing activity decreased in all four regions as the Northeast and Midwest fell 34.3 percent and 18.9 percent, respectively. The South and the West declined more modestly, falling 4.0 percent and 1.9 percent, respectively.
New building permits decreased during the month, falling 2.7 percent to 1.387 million, but are 7.7 percent above the September 2018 rate. Single-family building permits rose 0.8 percent.
Housing completions were at a seasonally adjusted annual rate of 1.139 million, down 9.7 percent from the revised August estimate and down 1.0 percent from the September 2018 rate.
Read the Census release.
