The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for September 2014. According to the data, building permits for privately-owned housing units in September were at a seasonally adjusted annual rate of 1,018,000, up 1.5 percent from the revised August rate of 1,003,000 and up 2.5 percent from the September 2013 rate of 993,000. Building permits for single-family housing in September were estimated at 624,000, down 0.5 percent from the revised August rate of 627,000. Building permits for units in buildings with five units or more in September were at a rate of 369,000.
Privately-owned housing starts were at an adjusted rate of 1,017,000 in September, up 6.3 percent from the previous month’s revised estimate of 957,000 and up 17.8 percent from the September 2013 rate of 863,000. Single-family housing starts were at a rate of 646,000 in September, up 1.1 percent from the revised August rate of 639,000. Starts for units in buildings with five units or more had a September rate of 353,000.
As for housing completions, the September rate for privately-owned housing was at a seasonally adjusted annual estimate of 999,000, an increase of 8.6 percent from the revised August rate of 920,000 and up a significant 31.3 percent from the September 2013 estimate of 761,000. Single-family housing completions were at a rate of 624,000 for September, putting it 1.0 percent above the revised August rate of 618,000. The housing completion rate for units in buildings with five units or more was at 368,000 in September.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for September 2014.