The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for September 2015. According to the data, building permits for privately-owned housing units in September were at a seasonally adjusted annual rate of 1,103,000, down 5.0 percent from the revised August rate of 1,161,000, but up 4.7 percent from the September 2014 rate of 1,053,000. Building permits for single-family housing in September were estimated at 697,000, down 0.3 percent from the revised August rate of 699,000. 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 1,206,000 in September, up 6.5 percent from the previous month’s revised estimate of 1,132,000 and up 17.5 percent from the September 2014 rate of 1,026,000. Single-family housing starts were at a rate of 740,000 in September, up 0.3 percent from the revised August rate of 738,000. Starts for units in buildings with five units or more had a September rate of 454,000.
As for housing completions, the September rate for privately-owned housing was at a seasonally adjusted annual estimate of 1,028,000, an increase of 7.5 percent from the revised August rate of 956,000 and up 8.4 percent from the September 2014 estimate of 948,000. Single-family housing completions were at a rate of 643,000 for September, putting it 1.8 percent below the revised August rate of 655,000. The housing completion rate for units in buildings with five units or more was at 378,000 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 2015.