Housing Starts Dropped In September

Posted by Orb Staff on October 21, 2009 No Comments
Categories : Residential Mortgage

Privately owned housing completions in September stood at a seasonally adjusted annual rate of 693,000, or about 10.2% below the revised August estimate of 772,000, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development.

The number of single-family housing completions during the month was approximately 464,000, which is 8.3% below the revised August figure of 506,000. The September rate for units in buildings with five units or more was 210,000.

Privately owned housing units authorized by building permits were at a seasonally adjusted annual rate of 573,000 in September, representing a 1.2% drop from the revised August rate of 580,000. The number of single-family authorizations in September was 450,000 – 3.0% below the revised August figure of 464,000. Authorizations of units in buildings with five units or more reached approximately 104,000 in September.

Privately owned housing starts also declined slightly in September, falling to a seasonally adjusted figure of 590,000. The revised estimate for August was 587,000.

SOURCE: U.S. Department of Commerce

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