US: Housing starts and building permits decline 0.6% and 5.3% respectively in September

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“Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,241,000.” The U.S. Census Bureau reported on Wednesday and added: “This is 0.6 percent below the revised August rate of 1,249,000 and is 1.0 percent  below the September 2017 rate of 1,254,000.”

Key takeaways from the press release

  • Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,201,000.
    • This is 5.3 percent below the revised August estimate of 1,268,000, but is 3.7 percent above the September 2017 rate of 1,158,000.
  • Privately‐owned housing completions in September were at a seasonally adjusted annual rate of 1,162,000.
    • This is 4.1 percent below the revised August estimate of 1,212,000, but is 7.0 percent above the September 2017 rate of 1,086,000. 
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