Housing starts slip in September

Year-over-year starts are up, but many other measures of activity are down.

As extreme weather and hurricanes slowed construction in the South, housing starts slipped in September. Starts in September were at a seasonally adjusted annual rate of 1,127,000, down 4.7% from the previous month, according to data released Wednesday morning by the U.S. Census Bureau.

The single-family story was also heading in the wrong direction  – down 4.6% to a rate of 829,000. Building

The year-over-year story was positive – total housing starts increased 6.1% compared to September 2016, when the rate was 1,062,000.

Measures of building permits were more negative than positive. Total permits in September came in at a rate of 1,215,000, down 4.5% from August and down 4.3% from September 2016. Single-family authorizations were up 2.4% to a rate of 219,000.

On a regional basis, Census revealed the following data about September starts:

Going down:
• South: 1-unit down 15.3% compared to August 2017;
• Midwest: total starts down 20.2% compared to August 2017;

Going up:
• West: 1-unit up 26.1% compared to September 2016;
• Northeast: 1-unit up 17.7% compared to September 2016.

For the full Census report, click here.

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