Industry News

U.S. housing starts jump 10%

Authorizations fall for structures with five or more units

Privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of about 2.19 million, which is 2.4 percent above the revised August rate of about 2.14 million and is 7.4 percent above the September 2004 estimate of 2.04 million, the U.S. Census Bureau and Department of Housing and Urban Development announced today. Single-family authorizations in September were at a rate of about 1,749,000; this is 4.4 percent above the August figure of 1,676,000. Authorizations of units in buildings with five units or more were at a rate of about 352,000 in September, which represents a 4.3 percent drop since September 2004. The seasonally adjusted annual rate is used to project a monthly total over a 12-month period, accounting for seasonal fluctuations. Privately owned housing starts in September were at a seasonally adjusted annual rate of about 2,108,000. This is 3.4 percent above the revised August estimate of 2,038,000 and is 10.3 percent ab...

Comments