9/19/: MetroIntelligence Economic Update by P. DUFFY

September builder confidence rises to highest level this year

Builder confidence in the market for newly-built single-family homes rose one point to 68 in September from an upwardly revised August reading of 67, for the highest rating this year.  Sentiment levels have held in the mid- to upper 60s since May and September’s reading matches the highest level since last October.

https://www.nahb.org/news-and-publications/press-releases/2019/09/builder-confidence-hits-yearly-high-in-sept.aspx

 

August housing starts up 12.3 percent from July and 6.6 percent year-on-year

Privately?owned housing starts in August were at a seasonally adjusted annual rate of 1,364,000.  This is up 12.3 percent from July and 6.6 percent year-on-year.  Single?family housing starts in August were at a rate of 919,000; this is 4.4 percent above July.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

 

August building permits up 7.7 percent from July and 12.0 percent year-on-year

Privately?owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,419,000.  This is up 7.7 percent from July and 12.0 percent year-on-year.    Single?family authorizations in August were at a rate of 866,000, or up 4.5 percent from July.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf