U.S. Census Bureau: Monthly New Residential Construction, September 2023

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 2023:

Building Permits

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,473,000. This is 4.4 percent below the revised August rate of 1,541,000 and is 7.2 percent below the September 2022 rate of 1,588,000. Single-family authorizations in September were at a rate of 965,000; this is 1.8 percent above the revised August figure of 948,000. Authorizations of units in buildings with five units or more were at a rate of 459,000 in September.

Housing Starts

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,358,000. This is 7.0 percent (±15.8 percent)* above the revised August estimate of 1,269,000, but is 7.2 percent (±12.1 percent)* below the September 2022 rate of 1,463,000. Single-family housing starts in September were at a rate of 963,000; this is 3.2 percent (±10.8 percent)* above the revised August figure of 933,000. The September rate for units in buildings with five units or more was 383,000.

Housing Completions

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,453,000. This is 6.6 percent (±10.2 percent)* above the revised August estimate of 1,363,000 and is 1.0 percent (±13.7 percent)* above the September 2022 rate of 1,438,000. Single-family housing completions in September were at a rate of 998,000; this is 5.3 percent (±11.2 percent)* above the revised August rate of 948,000. The September rate for units in buildings with five units or more was 445,000.

The October report is scheduled for release on November 17, 2023.  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/ >.

The original report can be found here.

Source: U.S. Census Bureau