U.S. New Home Construction Starts Reach 4-Year Highs in September

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According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), new residential construction starts in the U.S. during September 2012 surged to four-year highs.

HUD's report highlights include:

Building Permits

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 894,000. This is 11.6 percent (±1.1%) above the revised August rate of 801,000 and is 45.1 percent (±1.8%) above the September 2011 estimate of 616,000.

Single-family authorizations in September were at a rate of 545,000; this is 6.7 percent (±0.9%) above the revised August figure of 511,000. Authorizations of units in buildings with five units or more were at a rate of 323,000 in September.

Housing Starts

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 872,000. This is 15.0 percent (±12.1%) above the revised August estimate of 758,000 and is 34.8 percent (±18.2%) above the September 2011 rate of 647,000.

Single-family housing starts in September were at a rate of 603,000; this is 11.0 percent (±11.1%) above the revised August figure of 543,000. The September rate for units in buildings with five units or more was 260,000.

Housing Completions

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 683,000. This is 0.4 percent (±11.2%) above the revised August estimate of 680,000 and is 13.8 percent (±16.2%) above the September 2011 rate of 600,000.

Single-family housing completions in September were at a rate of 524,000; this is 8.5 percent (±15.4%) above the revised August rate of 483,000. The September rate for units in buildings with five units or more was 145,000.