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Residential construction shows continued signs of recovery in September

Oct 21, 2002 12:00 PM

New construction volume continues to outperform predictions, as statistics from the U.S. Commerce Department’s Census Bureau demonstrate.

Privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,727,000 – 3.7% above the revised August rate of 1,666,000 and 10% above the September 2001 estimate of 1,570,000.

Privately owned housing starts in September were at a seasonally adjusted rate of 1,843,000, which is 13.3% above the revised August estimate of 1,627,000 and 16.5% above the September 2001 rate of 1,582,000.

The Census Bureau releases residential construction data once a month.

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