by Calculated Risk on 10/20/2015 08:39:00 AM
Tuesday, October 20, 2015
Housing Starts increased to 1.206 Million Annual Rate in September
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,206,000. This is 6.5 percent above the revised August estimate of 1,132,000 and is 17.5 percent above the September 2014 rate of 1,026,000.
Single-family housing starts in September were at a rate of 740,000; this is 0.3 percent above the revised August figure of 738,000. The September rate for units in buildings with five units or more was 454,000.
Building Permits:
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,103,000. This is 5.0 percent below the revised August rate of 1,161,000, but is 4.7 percent above the September 2014 estimate of 1,053,000.
Single-family authorizations in September were at a rate of 697,000; this is 0.3 percent below the revised August figure of 699,000. Authorizations of units in buildings with five units or more were at a rate of 369,000 in September.
emphasis added
The first graph shows single and multi-family housing starts for the last several years.
Multi-family starts (red, 2+ units) increased in September. Multi-family starts were up sharply year-over-year.
Single-family starts (blue) increased in September and are up about 12% year-over-year.
The second graph shows total and single unit starts since 1968.
Total housing starts in September were above expectations, and starts were mostly unchanged for July and August. I'll have more later ...