by calculated risk October 18, 2024 08:30:00 AM
From the Census Bureau: Allow, start, complete
Housing starts:
Private housing starts rose to a seasonally adjusted annual rate of 1,354,000 in September.. This is 0.5% lower than the August revised figure of 1,361,000 people and 0.7% lower than the September 2023 figure of 1,363,000 people. The number of single-family housing starts in September was 1,027,000. This is 2.7% higher than the August revised figure of 1 million people. The number of units in buildings with five or more units in September was 317,000 units.Building permit:
The number of private housing units granted construction permits in September was a seasonally adjusted annual rate of 1.428 million units. This is 2.9 percent lower than the revised August rate of 1.47 million, and 5.7 percent lower than the September 2023 rate of 1.515 million. The number of single-family home approvals in September was 970,000. This is 0.3% higher than the August revised figure of 967,000. Approvals for buildings with five or more units were 398,000 units in September.
Emphasis added
Click on the graph to see a larger image.
The first graph shows the number of single-family and multifamily housing starts since 2000.
The number of apartment housing starts (blue, 2 or more units) in September decreased compared to August. The number of housing starts decreased by 16.2% from the previous year.
The number of single-family housing starts (red) increased in September, increasing by 5.5% compared to the same month last year.
The second graph shows the number of single-family and multi-family housing starts since 1968.
This marks the beginning of the massive collapse and subsequent eventual recovery following the housing bubble, and the recent single-family housing collapse and recovery.
Total housing starts in September were slightly higher than expected. The starts for July and August have been revised upwards.
I’ll eat more later…
