Housing starts in September decreased to a seasonally adjusted annual rate of 1.354 million, according to the U.S. Department of Commerce. This is 0.5% below the revised August estimate of 1.361 million and is 0.7% below the September 2023 rate of 1.363 million. Single-family housing grew to a rate of 1,027,000, 2.7% above the revised August figure of 1,000,000.
New building permits decreased to a seasonally adjusted annual rate of 1.428 million, 2.7% below the revised August rate of 1.470 million and 5.7% below the August 2023 rate of 1.515 million. Single-family authorizations edged u[ 0.3% to a rate of 970,000 from the revised August figure of 967,000.
Housing completions were at a seasonally adjusted annual rate of 1.680 million, 5.7% below the revised August estimate of 1781 million but is 14.6% above the September 2023 rate of 1.466 million.
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