New-home permits down, starts inch up

The rate of single-family building-permit authorizations dropped an estimated 14.9 percent year-over-year in September and dipped 3 percent compared to August, the U.S. Census Bureau and Department of Housing and Urban Development announced today.

The seasonally adjusted annual rate for single-family housing starts, meanwhile, was down an estimated 8.7 percent year-over-year in September and rose 3.9 percent from August. This rate is a projection of a monthly total over a 12-month period, adjusted to account for typical seasonal fluctuations in construction activity.

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