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October 17, 2019US HOUSING STARTS AND BUILDING PERMITS, SEPTEMBER 2019
BUILDING PERMITS
US residential building permits decreased 2.7 per cent in September compared to the revised August estimate, to a seasonally adjusted annualized rate of 1,387,000. This is 7.7 per cent above the September 2018 estimate of 1,288,000.
Year over year (Sep-19 vs Sep-18), permits for single unit structures increased 2.8 per cent. Permits for structures with 5 units or more increased 20.8 per cent and permits for structures with 2 to 4 units decreased 14.6 per cent over September 2018.
In the first 9 months of 2019, building permits are down 1.3 per cent. Permits are down for single unit structures (3.7 per cent), up for structures with 2 to 4 units (1.1 per cent), and up for structures with 5 units or more (3.0 per cent).
HOUSING STARTS
US housing starts decreased 9.4 per cent in September compared to the revised August estimate, to a seasonally adjusted annualized rate of 1,256,000. This is 1.6 per cent above the September 2018 estimate of 1,236,000.
Year over year (Sep-19 vs Sep-18), starts for single unit structures increased 4.3 per cent, and starts for structures with 5 or more units decreased 5.8 per cent. Year-to-date (Jan-September 2019), housing starts are down 1.6 per cent with declines in starts for single unit structures (1.9 per cent), and declines in starts for structures with 5 or more units (0.7 per cent).
Source: US Census Bureau New Residential Construction