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U.S. Housing Starts, Permits, and Completions All Move Lower in September

On Tuesday, the U.S. Census Bureau reported that privately‐owned housing starts in September were at a seasonally adjusted annual rate (SAAR) of 1,555,000. This is -1.6% below the revised August rate of 1,580,000 but is 7.4% above the September 2020 rate of 1,448,000. Single-family housing starts in September were at a rate of 1,080,000, virtually unchanged from the revised August figure.

Canadian Housing Starts Decline Month-Over-Month in September

The Canada Mortgage and Housing Corporation (CMHC) announced today (10-18-21) that the trend, which is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts, in September was 271,068 units, down from 284,757 units in August 2021. The standalone monthly SAAR of housing starts for all areas in Canada was 251,151 units in September, a decrease of -4.4% from 262,754 units in August.

Builder Confidence Increases for Second Consecutive Month in October

The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes edged 4-points higher in October to a reading of 80. This marks the second consecutive upward movement in the HMI. Builder confidence topped at a level of 90 in November 2020.