by Calculated Threat 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 price of 1,354,000. That is 0.5 % beneath the revised August estimate of 1,361,000 and is 0.7 % beneath the September 2023 price of 1,363,000. Single-family housing begins in September have been at a price of 1,027,000; that is
2.7 % above the revised August determine of 1,000,000. The September price 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
price of 1,428,000. That is 2.9 % beneath the revised August price of 1,470,000 and is 5.7 % beneath the
September 2023 price of 1,515,000. Single-family authorizations in September have been at a price 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 price of 398,000 in September.
emphasis added
Click on on graph for bigger picture.
The primary graph reveals 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 (purple) elevated in September and have been up 5.5% year-over-year.
The second graph reveals single and multi-family housing begins since 1968.
This reveals the large collapse following the housing bubble, after which the eventual restoration – and the current collapse and restoration in single-family begins.
Complete housing begins in September have been barely above expectations and begins in July and August have been revised up.
I am going to have extra later …