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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

October 20, 2020
US HOUSING STARTS AND BUILDING PERMITS, SEPTEMBER 2020

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced today the new residential construction statistics for September 2020.

BUILDING PERMITS

US residential building permits increased 5.2 per cent in September 2020 compared to the revised August 2020 estimate, to a seasonally adjusted annualized rate of 1,553,000. This is 8.1 per cent above the September 2019 estimate of 1,437,000.

Compared to September 2019, permits for single units increased 24.3 percent while permits for structures with 2 to 4 units increased 22.2 per cent. These gains were largely offset by the 22.2 per cent year-over-year decline in permits for structures with 5 units or more.

In the first 9 months of 2020, building permits are up 1.8 per cent compared to the same months in 2019. Permits are up for single unit structures (+9.0%), up for structures with 2 to 4 units (+3.4%), and down for structures with 5 units or more (-11.2%).

HOUSING STARTS

In September 2020, US housing starts increased 1.9 per cent compared to the revised August 2020 estimate, to a seasonally adjusted annualized rate of 1,415,000. This was 11.1 per cent above the September 2019 estimate of 1,274,000.

Year-over-year (Sep 2019 vs Sep 2020), starts for structures with 5 or more units decreased 17.4 per cent. Starts for single unit structures increased 22.3 per cent over September 2019.

Year-to-date (Jan-Sep 2020 vs. Jan-Sep 2019), housing starts are up 6.5 per cent with increases in both single unit structures (+6.4%) and structures with 5 or more units (+6.9%).

 

Source: US Census Bureau New Residential Construction

 



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