Housing Starts Up 1.9% in September

Housing starts increased to a seasonally adjusted annual rate of 1.415 million in September, according to the U.S. Census Bureau. The increase was 1.9% above the revised August estimate of 1.388 million and is 11.1% above the September 2019 rate of 1.274 million. Single-family home starts increased 8.5% from last month.

Housing starts were mixed across the country, rising in the Northeast (66.7%), West (1.4%) and South (6.2%) but falling in the Midwest (32.7%).

New building permits rose to 1.553 million in September, rising 5.2% over the month and 8.1% year-over-year. Single-family building permits increased 7.8% from the revised August figure.

Housing completions were at a seasonally adjusted annual rate of 1.413 million, up 15.3% from the revised August estimate and 25.8% below the September 2019 rate.

Read the Census release.

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