September 2020 Housing Starts & Permits Reported Higher

The U.S. Census Bureau has reported that privately‐owned housing starts in September were at a seasonally adjusted annual rate (SAAR) of 1,415,000. This is 1.9% above the revised August estimate of 1,388,000 and is 11.1% above the September 2019 rate. Single-family housing starts in September were at a rate of 1,108,000; and this is 8.5% above the revised August figure. The September rate for units in buildings with five units or more was 295,000. Building Permits are the forward-looking portion of the report and in September privately-owned housing units authorized by building permits were at a SAAR of 1,553,000. This is 5.2% above the revised August rate of 1,476,000 and is 8.1% above the September 2019 rate. Single-family authorizations in September were at a rate of 1,119,000; this is 7.8 % above the revised August 2019 figure. Authorizations of units in buildings with five units or more were at a rate of 390,000. Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,413,000. This is 15.3% above the revised August estimate of 1,226,000 and is 25.8% above the September 2019 rate. Single-family housing completions in September were at a rate of 921,000; this is 2.1% above the revised August rate of 902,000. The September rate for units in buildings with five units or more was 480,000.