Housing starts were at a seasonally adjusted annual rate of 1.439 million in September, according to the U.S. Census Bureau. This is 8.1% below the revised August estimate of 1.566 million and is 7.7% below the September 2021 rate of 1.559 million.
Housing starts were mixed across the country, increasing in the West (4.5%) but decreasing in the Midwest (-2.7%), South (13.7%) and Northeast (-12.5%).
New building permits were 1.564 million in September, 1.4% above the previous month’s revised rate of 1.542 million and is 3.2% below the September 2021 rate of 1.615 million. Single-family building permits decreased 3.1% from the revised August figure.
Housing completions were at a seasonally adjusted annual rate of 1.427 million in September. This is 6.1% above the revised August estimate of 1.345 million and is 15.7% above the September 2021 rate of 1.233 million.
Read the Census release.