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September housing starts fell by -7.9 %

Housing Starts U.S. Economic Indicators


The construction of new homes, as well as the issuance of new building permits declined in September, as decline in northeast and multi-dwelling units impact the housing starts.
In September U.S. housing starts dropped by -7.9 % on the seasonally adjusted basis to annual rate of 1,256,000 units, a decrease of 108,000 units from 1,364,000 in August.

In construction of housing units was bellow average rate of 1,115,143 housing starts. Over the past 12 months, housing starts grew by 4.6 %, led by construction of homes in the South by 19.2 %, this is the main reason why some economists are optimistic about the housing market, despite the recent slowdown.



Housing Starts

  M/M Y/Y
  Northeast -12.10% -9.17%
  Midwest -20.48% 4.38 %
  South -4.92% 19.22 %
  West -4.70% -14.12%
  Single-family -0.11% 5.40 %
  2 - 4 units -47.62% 83.33 %
  5 or more units -22.88% 0.93 %


Permits fell by -2.3 % or 32,000 units to an annual rate of 1,256,000 units, from 1,364,000 in August on the seasonally adjusted basis Demand for building permits fell the most in the Northeast and it was concentrated in multi-dwelling buildings such as apartments.

The issuance of new permits declined -25.2 % to annual rate of 109,000 units in the Northeast while the permits for multi-family units decreased -8.7 % accounting for 26.91 % of total building permits issued.

Permits indicate whether demand for new homes is growing or slowing. Compare to a year ago monthly building permits jumped by 11.8 %




Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 113,000 units, an decrease of 38,000 units, or -25.17 % from 151,000 units Aug. 2019 and an increase of 22.83 % from 92,000 units Sep. 2018.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 176,000 units, an decrease of 13,000 units, or -6.88 % from 189,000 units Aug. 2019 and an increase of 14.29 % from 154,000 units Sep. 2018.


  • In West housing units were authorized at seasonally adjusted annual rate of 366,000 units, an increase of 35,000 units, or 10.57 % from 331,000 units Aug. 2019 and an increase of 7.33 % from 341,000 units Sep. 2018.
  • In South housing units were authorized at seasonally adjusted annual rate of 732,000 units, an decrease of 16,000 units, or -2.14 % from 748,000 units Aug. 2019 and an increase of 11.93 % from 654,000 units Sep. 2018.

New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units)
Sep. 2019

prel.
Aug. 2019

prel.
July 2019

prel.
June 2019

prel.
May 2019

prel.
Total
1,387,000 1,419,000 1,317,000 1,220,000 1,294,000
In structures Single-family units
882,000 866,000 829,000 813,000 815,000
In structures with 2 - 4 units
35,000 44,000 45,000 47,000 37,000
In structures with 5 units or more
470,000 509,000 443,000 360,000 442,000
Northeast
113,000 151,000 119,000 117,000 92,000
Midwest
176,000 189,000 165,000 172,000 174,000
South
732,000 748,000 674,000 618,000 693,000
West
366,000 331,000 359,000 313,000 335,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total -2.26 % 7.74 % 7.95 % -5.72 % -0.15 %
In structures Single-family units 1.85 % 4.46 % 1.97 % -0.25 % 4.22 %
In structures with 2 - 4 units -20.45 % -2.22 % -4.26 % 27.03 % -21.28 %
In structures with 5 units or more -7.66 % 14.9 % 23.06 % -18.55 % -5.35 %
Northeast -25.17 % 26.89 % 1.71 % 27.17 % -23.33 %
Midwest -6.88 % 14.55 % -4.07 % -1.15 % -7.45 %
South -2.14 % 10.98 % 9.06 % -10.82 % 6.78 %
West 10.57 % -7.8 % 14.7 % -6.57 % -1.18 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total 11.76 % 13.61 % 0.46 % -4.16 % -0.54 %
In structures Single-family units 3.64 % 4.72 % -4.6 % -4.35 % -3.32 %
In structures with 2 - 4 units -10.26 % 25.71 % 40.63 % 30.56 % 8.82 %
In structures with 5 units or more 33.9 % 31.52 % 8.05 % -6.98 % 4.25 %
Northeast 22.83 % 48.04 % -5.56 % 4.46 % -17.86 %
Midwest 14.29 % -0.53 % -9.84 % 1.18 % 2.35 %
South 11.93 % 15.08 % 0.9 % -6.93 % 4.37 %
West 7.33 % 7.82 % 7.49 % -4.28 % 2.45 %



New Housing Units Started
(Seasonally adj., at Annual Rate, units)
Sep. 2019

prel.
Aug. 2019

prel.
July 2019

prel.
June 2019

prel.
May 2019

prel.
Total
1,256,000 1,364,000 1,364,000 1,253,000 1,269,000
In structures Single-family units
918,000 919,000 919,000 847,000 820,000
In structures with 2 - 4 units
11,000 21,000 21,000 10,000 13,000
In structures with 5 units or more
327,000 424,000 424,000 396,000 436,000
Northeast
109,000 124,000 124,000 109,000 73,000
Midwest
167,000 210,000 210,000 197,000 160,000
South
676,000 711,000 711,000 635,000 704,000
West
304,000 319,000 319,000 312,000 332,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total -7.92 % 0 % 8.86 % -1.26 % 2.75 %
In structures Single-family units -0.11 % 0 % 8.5 % 3.29 % -3.98 %
In structures with 2 - 4 units -47.62 % 0 % 110 % -23.08 % -40.91 %
In structures with 5 units or more -22.88 % 0 % 7.07 % -9.17 % 21.45 %
Northeast -12.1 % 0 % 13.76 % 49.32 % -49.31 %
Midwest -20.48 % 0 % 6.6 % 23.13 % -13.98 %
South -4.92 % 0 % 11.97 % -9.8 % 21.17 %
West -4.7 % 0 % 2.24 % -6.02 % 2.47 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total 4.58 % 7.57 % 16.78 % 6.82 % -5.09 %
In structures Single-family units 5.4 % 4.55 % 6.61 % -1.28 % -13.14 %
In structures with 2 - 4 units 83.33 % 23.53 % 600 % -9.09 % 8.33 %
In structures with 5 units or more 0.93 % 13.98 % 39.93 % 30.26 % 14.44 %
Northeast -9.17 % 33.33 % 27.84 % 13.54 % -29.13 %
Midwest 4.38 % 12.9 % 21.39 % 26.28 % -34.16 %
South 19.22 % 8.22 % 11.79 % 5.66 % 6.51 %
West -14.12 % -3.92 % 21.76 % -2.5 % 0.61 %



New Housing Units Authorized
(Not seasonally adjusted, units)
Sep. 2019

prel.
Aug. 2019

prel.
July 2019

prel.
June 2019

prel.
May 2019

prel.
Total
114,300 127,000 118,800 110,100 124,000
In structures Single-family units
70,600 78,100 78,200 74,100 81,200
In structures with 2 - 4 units
3,000 4,100 4,000 4,400 3,300
In structures with 5 units or more
40,600 44,900 36,500 31,600 39,400
Northeast
9,700 12,900 11,100 11,300 8,900
Midwest
16,400 18,500 15,700 15,600 18,100
South
58,900 66,200 60,900 53,900 65,300
West
29,300 29,500 31,000 29,300 31,600



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total -10 % 6.9 % 7.9 % -11.21 % 3.94 %
In structures Single-family units -9.6 % -0.13 % 5.53 % -8.74 % 7.84 %
In structures with 2 - 4 units -26.83 % 2.5 % -9.09 % 33.33 % -21.43 %
In structures with 5 units or more -9.58 % 23.01 % 15.51 % -19.8 % -1.01 %
Northeast -24.81 % 16.22 % -1.77 % 26.97 % -11 %
Midwest -11.35 % 17.83 % 0.64 % -13.81 % -1.63 %
South -11.03 % 8.7 % 12.99 % -17.46 % 9.93 %
West -0.68 % -4.84 % 5.8 % -7.28 % 0.64 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total 18.32 % 8.64 % 4.21 % -8.1 % -0.8 %
In structures Single-family units 9.12 % -0.51 % 0.77 % -8.86 % -3.79 %
In structures with 2 - 4 units -9.09 % 17.14 % 37.93 % 25.71 % 10 %
In structures with 5 units or more 41.46 % 28.29 % 8.96 % -9.71 % 4.79 %
Northeast 24.36 % 43.33 % -1.77 % 6.6 % -16.04 %
Midwest 19.71 % -6.09 % -5.99 % -3.7 % 11.73 %
South 19.47 % 10.7 % 4.64 % -11.06 % 7.76 %
West 13.13 % 3.51 % 11.91 % -9.57 % -2.47 %







New Housing Units Started
(Not seas. adj. at Annual Rate, units)
Sep. 2019

prel.
Aug. 2019

prel.
July 2019

prel.
June 2019

prel.
May 2019

prel.
Total
112,900 121,100 115,500 117,500 118,700
In structures Single-family units
80,700 82,500 84,900 81,600 78,300
In structures with 2 - 4 units
1,100 1,900 1,000 900 1,200
In structures with 5 units or more
31,100 36,700 29,600 35,000 39,200
Northeast
10,300 11,100 9,300 10,200 6,600
Midwest
16,400 19,300 18,200 19,700 16,300
South
59,500 61,800 57,500 57,900 65,300
West
26,800 28,900 30,400 29,700 30,600






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total -6.77 % 4.85 % -1.7 % -1.01 % 4.03 %
In structures Single-family units -2.18 % -2.83 % 4.04 % 4.21 % -3.57 %
In structures with 2 - 4 units -42.11 % 90 % 11.11 % -25 % -36.84 %
In structures with 5 units or more -15.26 % 23.99 % -15.43 % -10.71 % 26.45 %
Northeast -7.21 % 19.35 % -8.82 % 54.55 % -48.03 %
Midwest -15.03 % 6.04 % -7.61 % 20.86 % -7.39 %
South -3.72 % 7.48 % -0.69 % -11.33 % 21.6 %
West -7.27 % -4.93 % 2.36 % -2.94 % 1.66 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
Sep. 2019
prel.
Aug. 2019
prel.
July 2019
prel.
June 2019
prel.
May 2019
prel.
Total 6.41 % 7.55 % 4.62 % 5.38 % -4.12 %
In structures Single-family units 8.76 % 3.64 % 3.79 % -2.63 % -12.02 %
In structures with 2 - 4 units 83.33 % 26.67 % 233.33 % -10 % 20 %
In structures with 5 units or more -0.64 % 16.51 % 4.59 % 31.09 % 15.98 %
Northeast -7.21 % 32.14 % -2.11 % 9.68 % -31.25 %
Midwest 5.13 % 15.57 % 3.41 % 24.68 % -32.64 %
South 23.44 % 6 % -1.37 % 2.84 % 9.75 %
West -14.1 % -1.03 % 21.12 % -1.66 % 0 %

Source U.S. Department of Commerce

             
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