Discounting Revisions Housing Starts Were Flat
New Residential Construction
The New Residential Construction Report shows housing starts rose 1.9%, permits 5.2%, and completions 15.3%.
- Starts: 1,415,000 SAAR. This is 8.8% above the revised August estimate of 1,388,000.
- Permits: 1,553,000 SAAR. This is 5.2% above the revised August rate of 1,476,000.
- Completions: 1,413,000 SAAR. This is 15.3% above the revised August estimate of 1,226,000.
August Stats as Initially Reported
- Starts: 1,415,000 SAAR.
- Permits: 1.470,000 SAAR
- Starts: 125,000
- Permits: 134,200
- Completed: 121,000
Starts, Permits, Completions 1959-Present
Housing starts are about where they were in 1959. Affordability and attitudes about ownership are in play.
But hey, starts were up 1.9% to 1,415,000 SAAR. Hooray.