Housing Begins Decreased to 1.354 million Annual Charge in September

by Calculated Danger on 10/18/2024 08:30:00 AM

From the Census Bureau: Permits, Begins and Completions

Housing Begins:
Privately-owned housing begins in September have been at a seasonally adjusted annual fee of 1,354,000. That is 0.5 % under the revised August estimate of 1,361,000 and is 0.7 % under the September 2023 fee of 1,363,000. Single-family housing begins in September have been at a fee of 1,027,000; that is
2.7 % above the revised August determine of 1,000,000. The September fee for items in buildings with 5 items or extra was 317,000.

Constructing Permits:
Privately-owned housing items licensed by constructing permits in September have been at a seasonally adjusted annual
fee of 1,428,000. That is 2.9 % under the revised August fee of 1,470,000 and is 5.7 % under the
September 2023 fee of 1,515,000. Single-family authorizations in September have been at a fee of 970,000; that is 0.3
% above the revised August determine of 967,000. Authorizations of items in buildings with 5 items or extra have been
at a fee of 398,000 in September.
emphasis added

Click on on graph for bigger picture.

The primary graph exhibits single and multi-family housing begins since 2000.

Multi-family begins (blue, 2+ items) decreased in September in comparison with August.   Multi-family begins have been down 16.2% year-over-year.

Single-family begins (pink) elevated in September and have been up 5.5% year-over-year.

The second graph exhibits single and multi-family housing begins since 1968.

This exhibits the massive collapse following the housing bubble, after which the eventual restoration – and the current collapse and restoration in single-family begins.

Whole housing begins in September have been barely above expectations and begins in July and August have been revised up.  

I will have extra later …