August 2009 Building Permits

Here is the Census Bureau Report on housing for August. August 2009 Report

BUILDING PERMITS

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 579,000.This is 2.7 percent (±1.2%) above the revised July rate of 564,000, but is 32.4 percent (±1.3%) below the August 2008 estimate of857,000.

Single-family authorizations in August were at a rate of 462,000; this is 0.2 percent (±1.1%)* below the revised July figure of 463,000. Authorizations of units in buildings with five units or more were at a rate of 98,000 in August.

HOUSING STARTS

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 598,000. This is 1.5 percent (±7.9%)* above the revised July estimate of 589,000, but is 29.6 percent (±6.0%) below the August 2008 rate of 849,000.

Single-family housing starts in August were at a rate of 479,000; this is 3.0 percent (±5.7%)* below the revised July figure of 494,000.The August rate for units in buildings with five units or more was 115,000.

HOUSING COMPLETIONS

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 760,000. This is 5.5 percent (±14.0%)*below the revised July estimate of 804,000 and is 25.3 percent (±9.6%) below the August 2008 rate of 1,018,000.

Single-family housing completions in August were at a rate of 489,000; this is 1.6 percent (±12.7%)* below the revised July figure of 497,000. The August rate for units in buildings with five units or more was 256,000

Single-family completions of 489,000 are about the same level as single-family starts (479,000). According to Calculated Risk construction employment has stabilized. Has construction employment stabilized or shown growth – what’s your opinion?

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