Housing Starts Declined 0.5% in September

Washington, DC, October 18, 2024- Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,354,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 0.5% below the revised August estimate of 1,361,000 and 0.7% below the September 2023 rate of 1,363,000. Single-family housing starts in September were at a rate of 1,027,000; this is 2.7% above the revised August figure of 1,000,000. The September rate for units in buildings with five units or more was 317,000.

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,428,000, 2.9% below the revised August rate of 1,470,000 and is 5.7% below the September 2023 rate of 1,515,000.

Single-family authorizations in September were at a rate of 970,000; this is 0.3% above the revised August figure of 967,000. Authorizations of units in buildings with five units or more were at a rate of 398,000 in September.

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,680,000. This is 5.7% below the revised August estimate of 1,781,000 but is 14.6% above the September 2023 rate of 1,466,000. Single-family housing completions in September were at a rate of 1,000,000; this is 2.7% below the revised August rate of 1,028,000. The September rate for units in buildings with five units or more was 671,000.