The Commerce Department reported this week that privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,225,000. This is 6.3% above the revised August rate of 1,152,000 and is 8.5% higher than September 2015. Single-family authorizations in September were at a rate of 739k which is 0.4% higher than August. Authorizations of units in buildings with five units or more were at a rate of 449,000 in September. Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,047,000. This is 9% lower than August’s estimate of 1,150,000 and is 11.9% lower than September 2015. Single-family housing starts in September were at a rate of 783k which is 8.1% higher than August’s number. The September rate for units in buildings with five units or more was 250,000 (in August it was 403k).
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