Keeping you up to date on the latest data releases.
New privately-owned housing improved in September, increasing 15.0 percent to 658,000 seasonally-adjusted annualized units. Single-family housing starts improved slightly, increasing 1.7 percent to 425,000 seasonally-adjusted annualized units. The improvement follows an upwardly revised 2.8 percent decline in August. On a year-over-year basis, single-family housing starts are down 4.9 percent. Single-family housing starts improved in the Northeast and Midwest regions, increasing 20.6 percent and 46.0 percent, respectively. Single-family housing starts declined in the South, falling 9.4 percent and were flat in the West. Multi-unit housing starts (which tend to be more volatile than single-family housing starts) rose 51.0 percent in September to 233,000 seasonally-adjusted annualized units and are up 55.3 percent on a year-over-year basis.
Total housing units authorized declined in September, falling 5.0 percent to 594,000 seasonally-adjusted annualized units. Authorized permits for single-family homes declined 0.2 percent to 417,000 seasonally-adjusted annualized units. On a year-over-year basis, authorized permits are up 3.5 percent over September 2010’s pace. Authorized permits for multi-unit structures fell 14.5 percent to 177,000 seasonally adjusted annualized units and are up 11.3 percent on a year-over-year basis.