Housing Starts Declined 8.1% in September

Washington, DC, October 19, 2022-Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,439,000, 8.1% below the revised August estimate of 1,566,000 and 7.7% below the September 2021 rate of 1,559,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Single‐family housing starts in September were at a rate of 892,000; this is 4.7% below the revised August figure of 936,000. The September rate for units in buildings with five units or more was 530,000.

Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,564,000. This is 1.4% above the revised August rate of 1,542,000, but is 3.2% below the September 2021 rate of 1,615,000. Single‐family authorizations in September were at a rate of 872,000; this is 3.1% below the revised August figure of 900,000. Authorizations of units in buildings with five units or more were at a rate of 644,000 in September.

Privately‐owned housing completions in September were at a seasonally adjusted annual rate of 1,427,000. This is 6.1% above the revised August estimate of 1,345,000 and is 15.7% above the September 2021 rate of 1,233,000. Single‐family housing completions in September were at a rate of 1,049,000; this is 3.2% above the revised August rate of 1,016,000. The September rate for units in buildings with five units or more was 376,000.