WASHINGTON -- Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,206,000, 6.5 percent above the revised August estimate of 1,132,000, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development.
Single-family housing starts in September were at a rate of 740,000; this is 0.3 percent above the revised August figure of 738,000.
"Although our builders are gaining confidence in the housing market, they remain cautious about adding too much inventory," said NAHB Chairman Tom Woods, a home builder from Blue Springs, Mo.
"Despite the modest month-over-month differentials in single-family production, this sector has shown gradual improvement throughout 2015," said NAHB Chief Economist David Crowe. "Since January, single-family starts are up 11 percent and we anticipate a similar pace for the rest of this year."
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,103,000. This is 5.0 percent below the revised August rate of 1,161,000, but is 4.7 percent above the September 2014 estimate of 1,053,000.
Single-family authorizations in September were at a rate of 697,000; this is 0.3 percent below the revised August figure of 699,000. Authorizations of units in buildings with five units or more were at a rate of 369,000 in September.
Regionally, the Midwest, South and West posted respective permit losses of 5.1 percent, 6.8 percent and 6.2 percent. The Northeast rose 8.3 percent.