Housing starts Increases in September

Housing starts were at a seasonally adjusted annual rate of 1.575 million in August, according to the U.S. Census Bureau. This is 12.2% above the revised July estimate of 1.404 million but 0.1% below the August 2021 rate of 1.576 million.

Housing starts were mixed across the country, increasing in the Midwest (19.3%), South (24.5%%) and in the West (1.1%) but decreasing in the Northeast (-17.3%).

New building permits were 1.517 million in August, 10% below the previous month’s revised rate of 1.685 million and is 14.4% below the August 2021 rate of 1.772 million. Single-family building permits decreased 3.5% from the revised July figure.

Housing completions were at a seasonally adjusted annual rate of 1.342 million in August. This is 5.4% below the revised July estimate of 1.419 million and is 3.1% above the August 2021 rate of 1.302 million.

Read the Census release.

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