From National Association of Home Builders
With the partial shutdown of the federal government preventing the U.S. Census Bureau from releasing a housing estimate for September, NAHB has prepared its own, and came up with an estimate that the seasonally adjusted annual rate of construction for single-family homes was between 620,000 and 630,000 units.
NAHB estimates that the pace of construction of multifamily units was an additional 255,000 to 270,000, bringing the anticipated pace of total housing starts in September to between 875,000 and 900,000 units.
“The NAHB estimate of 875,000 to 900,000 total housing starts is based on continuing improvement in single-family starts and ongoing volatility in multifamily construction,” said NAHB Chief Economist David Crowe.
“Single-family starts dipped in July but rebounded in August, and we expect continued strength in September,” Crowe added. “The Fed meeting in mid-September provided additional relief to builders and buyers that interest rates would remain near historic lows.