Single-Family Starts Flat in September
Single-family housing production held steady in September as strong demand helped to offset ongoing building material supply chain disruptions. Meanwhile, declines in multifamily production helped to push overall housing starts in September down 1.6% to a seasonally adjusted annual rate of 1.56 million, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
The September reading of 1.56 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts were essentially unchanged from the previous month at a 1.08 million seasonally adjusted annual rate, and are up 20.5% year-to-date. The multifamily sector, which includes apartment buildings and condos, decreased 5% to a 475,000 pace.
“Single-family construction continued along recent, more sustainable trends in September,” said NAHB Chairman Chuck Fowke. “Lumber prices have moved off recent lows, but the cost and availability of many building materials continues to be a challenge for a market that still lacks inventory. Policymakers should continue to work to improve supply chains.”
“Builder confidence increased in October, which confirms stabilization of home construction at current levels,” said NAHB Chief Economist Robert Dietz. “The number of single-family units in the construction pipeline is 712,000, almost 31% higher than a year ago as more inventory is headed to market. Multifamily construction has expanded as well, with almost a 6% year over year gain for apartments currently under construction.”
On a regional and year-to-date basis (January through September of 2021 compared to that same time frame a year ago), combined single-family and multifamily starts are 28.9% higher in the Northeast, 12.1% higher in the Midwest, 18.6% higher in the South and 22.6% higher in the West.
Overall permits decreased 7.7% to a 1.59 million unit annualized rate in September. Single-family permits decreased 0.9% to a 1.04 million unit rate. Multifamily permits decreased 18.3% to a 548,000 pace.
Looking at regional permit data on a year-to-date basis, permits are 19.6% higher in the Northeast, 19.9% higher in the Midwest, 22.9% higher in the South and 25% higher in the West.
Latest from NAHBNow
Jul 10, 2025
NAHB Presents Oral Arguments Challenging HUD’s 2021 IECC MandateOn July 9, the Federal District Court for the Eastern District of Texas heard oral arguments in NAHB’s challenge to the government’s final determination requiring that homes built under certain housing programs comply with the 2021 International Energy Conservation Code (IECC) and 2019 ASHRAE-90.1.
Jul 10, 2025
Remodeling Market Sentiment Dips in Second QuarterNAHB released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter, posting a reading of 59, down four points compared to the previous quarter. While the reading of 59 is still in positive territory, this is only the second time the RMI has dipped below 60 since the survey was revised in the first quarter of 2020.
Latest Economic News
Jul 09, 2025
Mortgage Applications Picked Up in June as Rates EasedMortgage application activity picked up in June, supported by a slight decline in interest rates. The Mortgage Bankers Association’s (MBA) Market Composite Index, which tracks mortgage application volume, rose 5.4% from May on a seasonally adjusted basis. Compared to June 2024, total applications were up 21.1%.
Jul 09, 2025
Who’s Still Working from Home in 2025? A Look at America’s Telework TrendsRemote work may no longer dominate the U.S. labor force as it did during the height of the pandemic in 2020, but it still represents a substantial share of employment today.
Jul 08, 2025
Top Ten Builder Share Rises Again in 2024The top ten builders captured a record 44.7% of all new U.S. single-family home closings in 2024, up 2.4 percentage points from 2023 (42.3%).