Housing Starts Down in September

Oct 18, 2017

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) dropped slightly after weeks of steady increases

Single-family housing starts in September were at a rate of 829,000, which is 4.6 percent below the revised August figure of 869,000, according to new data from the U.S. Census Bureau and Department of Housing and Urban Development.

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,127,000, a 4.7 percent drop from the revised August estimate of 1,183,000 but a 6.1 percent rise above the September 2016 rate of 1,062,000.

Single-family authorizations in September were at a rate of 819,000, a 2.4 percent increase from the revised August figure of 800,000. Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,215,000, which is 4.5 percent below the revised August rate of 1,272,000 and is 4.3 percent below the September 2016 rate of 1,270,000.

Single-family housing completions in September were at a rate of 781,000, a 4.6 percent increase from the revised August rate of 747,000. Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,109,000, a 1.1 percent uptick from the revised August estimate of 1,097,000 and a 10.3 percent leap above the September 2016 rate of 1,005,000.

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Phil Hall

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Oct 18, 2017

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