U.S. Census Bureau: Monthly New Residential Construction, September 2022

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The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2022:

Building Permits

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,564,000. This is 1.4 percent above the revised August rate of 1,542,000, but is 3.2 percent below the September 2021 rate of 1,615,000. Single-family authorizations in September were at a rate of 872,000; this is 3.1 percent below the revised August figure of 900,000. Authorizations of units in buildings with five units or more were at a rate of 644,000 in September.

Housing Starts

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,439,000. This is 8.1 percent (±14.9 percent)* below the revised August estimate of 1,566,000 and is 7.7 percent (±11.5 percent)* below the September 2021 rate of 1,559,000. Single-family housing starts in September were at a rate of 892,000; this is 4.7 percent (±10.7 percent)* below the revised August figure of 936,000. The September rate for units in buildings with five units or more was 530,000.

Housing Completions

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,427,000. This is 6.1 percent (±11.0 percent)* above the revised August estimate of 1,345,000 and is 15.7 percent (±13.1 percent) above the September 2021 rate of 1,233,000. Single-family housing completions in September were at a rate of 1,049,000; this is 3.2 percent (±8.8 percent)* above the revised August rate of 1,016,000. The September rate for units in buildings with five units or more was 376,000.

For the full September report, click here.

The October report is scheduled for release on November 17, 2022.  View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>.  The full text and tables for this release can be found at <www.census.gov/construction/nrc/>.

Source: U.S. Census Bureau