Housing Starts Rose 7% in September

Washington, DC, October 18, 2023-Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,358,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 7.0% above the revised August estimate of 1,269,000 but 7.2% below the September 2022 rate of 1,463,000. Single‐family housing starts in September were at a rate of 963,000; this is 3.2% above the revised August figure of 933,000. The September rate for units in buildings with five units or more was 383,000.

Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,473,000. This is 4.4% below the revised August rate of 1,541,000 and is 7.2% below the September 2022 rate of 1,588,000. Single‐family authorizations in September were at a rate of 965,000; this is 1.8% above the revised August figure of 948,000. Authorizations of units in buildings with five units or more were at a rate of 459,000 in September.

Privately‐owned housing completions in September were at a seasonally adjusted annual rate of 1,453,000. This is 6.6% above the revised August estimate of 1,363,000 and is 1.0% above the September 2022 rate of 1,438,000. Single‐family housing completions in September were at a rate of 998,000; this is 5.3% above the revised August rate of 948,000. The September rate for units in buildings with five units or more was 445,000.