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.
