Government Reports New Residential Construction Numbers for September 2009

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(News Source: U.S. Census Bureau & HUD)

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2009.

BUILDING PERMITS

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 573,000.

This is 1.2 percent (±1.8%) below the revised August rate of 580,000 and is 28.9 percent (±2.2%) below the September 2008 estimate of 806,000.

Single-family authorizations in September were at a rate of 450,000; this is 3.0 percent (±1.0%) below the revised August figure of 464,000. Authorizations of units in buildings with five units or more were at a rate of 104,000 in September.

HOUSING STARTS

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 590,000. This is 0.5 percent (±9.9%) above the revised August estimate of 587,000, but is 28.2 percent (±6.7%) below the September 2008 rate of 822,000.

Single-family housing starts in September were at a rate of 501,000; this is 3.9 percent (±9.3%) above the revised August figure of 482,000. The September rate for units in buildings with five units or more was 78,000.

HOUSING COMPLETIONS

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 693,000. This is 10.2 percent (±10.4%) below the revised August estimate of 772,000 and is 39.6 percent (±5.7%) below the September 2008 rate of 1,148,000.

Single-family housing completions in September were at a rate of 464,000; this is 8.3 percent (±14.3%) below the revised August figure of 506,000. The September rate for units in buildings with five units or more was 210,000.

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