Housing Starts Still Under The Weather; Single-Family Permits on The Mend

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Posted To: MND NewsWire

The U.S. Census Bureau is mum on causation, but results from the southern region would indicate that the August and September hurricanes probably drove declines in both housing permits (except those for single-family residences) and housing starts in September. Both were down by over 4 percent compared to their August numbers, although housing starts had previously been very weak . Housing completions did rise. The Bureau, in conjunction with the Department of Housing and Urban Development, reports that housing permits nationwide were issued at a seasonally adjusted annual rate of 1,215,000, down 4.5 percent from the August estimate of 1,272,000 units. The August number is a revision from the original estimate of 1,300,000. The September results and the August revision dropped the rate of permitting…(read more)

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