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For Better or Worse, Multi-Family Drives Construction Numbers

Tuesday, October 20, 2015

Multi-family home construction drove the numbers for most of the September report on residential construction issued today by the U.S. Census Bureau and the Department of Housing and Urban Development.  Permitting was down while housing starts posted a respectable gain.

Construction permits were issued at a seasonally adjusted annual rate of 1,103,000 units, down 5.0 percent from the downwardly revised August rate of 1,161,000 (originally 1,170,000.)  The September rate was 4.7 percent higher than a year earlier when the estimate was 1,053,000 units.


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