The U.S. Census Bureau estimated privately owned housing starts at an annual rate of 1.221 million in September, but uncertainty in the data leaves the monthly direction of homebuilding unresolved.
The seasonally adjusted estimate was 5.2% below August's revised rate of 1.288 million. The bureau put the margin of error for that monthly change at 11.8 percentage points, meaning the figures do not establish whether starts rose or fell from August.
September's estimate was also 7.4% below the rate of 1.319 million recorded a year earlier. That estimated yearly change was statistically inconclusive as well.
Single-family starts were estimated at an annual rate of 859,000, against a revised 900,000 in August. The 4.6% difference is a lower point estimate, but the monthly change is statistically inconclusive. Starts in buildings with five or more housing units were put at a 349,000 annual rate.
Building permits record local authorization for construction. The bureau estimated permits for privately owned housing units at a 1.4 million annual rate, compared with a revised 1.403 million in August. The single-family permit estimate was 845,000, compared with 880,000 in August. Permits for units in buildings with five or more housing units were estimated at 503,000.
For housing completions, the September annualized estimate was 1.192 million. August's rate was 1.166 million, while the September 2025 rate was 1.386 million. The estimated monthly increase in completions was statistically inconclusive.
Revised permit estimates and new residential sales are scheduled for Oct. 27. The next New Residential Construction report is scheduled for Nov. 18.
