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US housing starts, building permits decline in September

Privately owned housing starts in the U.S. were at a seasonally adjusted annual rate of 1,127,000 in September, 4.7% lower than August's revised estimate of 1,183,000, but higher 6.1% year over year, data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development showed.

Single-family housing starts slipped 4.6% to 829,000 in September from the revised 869,000 figure in the month before, while the rate for units in buildings with five units or more was 286,000.

Housing units authorized by building permits in September slipped 4.5% to a seasonally adjusted annual rate of 1,215,000 from the revised August rate of 1,272,000, and fell 4.3% from a year earlier. September single-family authorizations came in at a rate of 819,000, 2.4% above August's revised rate of 800,000. Authorizations of units in buildings with five units or more were at a rate of 360,000.

Housing completions in September were at a seasonally adjusted annual rate of 1,109,000, up 1.1% from the revised estimate of 1,097,000 in the previous month and 10.3% higher annually. Single-family housing completions rose 4.6% month over month to 781,000 after dropping to a revised 747,000 in the month before, while the September rate for units in buildings with five units or more was 322,000.