Housing Bubble
September housing starts at highest level in 16 years
Housing starts
Latest estimates from U.S. Commerce Department's Census Bureau show new homebulding starts in September hit their highest level since 1986. This 13.3 percent (±9.8%) rise is the largest monthly gain in since July 1995. Single family housing starts rose by 18.2 percent (±8.5%) to 1,477,000, the highest rate since November 1978.
Building permits
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,727,000. This is 3.7 percent (±0.8%) above the revised August rate of 1,666,000 and is 10.0 percent (±1.1%) above the September 2001 estimate of 1,570,000.
Housing completions
Privately-owned housing completions in September were 4.4 percent (±6.9%) below the revised August estimate of 1,689,000; although this was still 4.1 percent (±6.8%) above the September 2001 rate of 1,551,000. Single-family housing completions in September 2002 were just 0.2 percent (±7.5%) above the August number at a rate of 1,310,000.
