Housing Starts See 15% Surge in September

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 872,000, according to the U.S. Census Bureau. This is 15% above the revised August estimate of 758,000 and 34.8% above the Sept. 2011 rate of 647,000. Single-family housing starts were at a rate of 603,000; 11% above the revised August figure of 543,000. The September rate for buildings with five units or more was 260,000.

Building permits. Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 894,000, 11.6% above the revised August rate of 801,000 and 45.1% above the Sept. 2011 estimate of 616,000. Single-family authorizations in September hit 545,000; 6.7% above the revised August figure of 511,000.