Housing starts posted an unexpected 5.9% increase in September

The Commerce Department reported that housing starts rose by 5.9% in September to a seasonally adjusted annual rate of 1.772 million units. It was the first increase after three consecutive monthly declines. Single-family housing starts in rose by 4.3% in September to an annual rate of 1.426 million units.  

Privately-owned housing units authorized by building permits fell 6.3% in September to a seasonally adjusted annual rate of 1,619,000. This is 27.7% below the September 2005 estimate of 2,240,000. Single-family authorizations in September were at a rate of 1,207,000, a 6.0% below the August figure. 

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,772,000. This is 5.9% above the revised August estimate of 1,674,000, but is 17.9% below the September 2005.

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 2,084,000, a 11.1% above the revised August estimate and is 7.2% above the September 2005 rate of 1,944,000.

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