DID YOU KNOW?

MONTHLY NEW RESIDENTIAL CONSTRUCTION, SEPTEMBER 2020

Building permits authorizing privately-owned housing units in September were at an annual rate of 1,553,000 (seasonally adjusted). This is 5.2% above the revised August rate of 1,467,000.

In September privately-owned housing starts were at an annual rate of 1,415,000 (seasonally adjusted). This is 1.9% above the revised August estimate and 11.1% above the September 2019 rate of 1,274,000.

Privately-owned housing completions were at an annual rate of 1,413,000 (seasonally adjusted) in September. This is 15.3% above the revised August estimate and 25.8% above the September 2019 annual rate.

Source: U.S. Census Bureau (2020) Monthly New ResidentialConstruction, September 2020Next Release: November 18, 2020

MONTHLY CONSTRUCTION SPENDING

Total construction spending during September 2020 was estimated at aseasonally adjusted annual rate of $1,414.0 billion, this is 0.3% above therevised August estimate.

In September, spending on private construction was at an annual rate of $1,074.9 billion (seasonally adjusted). This is 0.9% above the revised estimate of $1,065.6 billion in August.

Source: U.S. Census Bureau (2020) Monthly Construction Spending, September 2020. Next release: December 1, 2020

MONTHLY NEW RESIDENTIAL SALES, SEPTEMBER 2020

This represents a supply of 3.6 months at the current sales rate.

NEW HOUSES SOLD 959,000

Seasonally Adjusted Annual Rates

NEW HOUSES FOR SALE 284,000

Seasonally Adjusted

MEDIAN SALES PRICE $326,800

Source: U.S. Census Bureau (2020) Monthly New Residential Sales, September 2020. Next release: November 25, 2020

QUARTERLY RESIDENTIAL VACANCIES AND HOMEOWNERSHIP, SECOND QUARTER 2020

RENTAL VACANCY RATE 6.4% 0.4% lower than rate in 3rd quarter 2019 and 0.7% higher than rate in 2nd quarter 2020

HOMEOWNER VACANCY RATE 0.9% 0.5% lower than the rate in 3rd quarter 2019 and unchanged from rate in the 2nd quarter 2020

HOMEOWNERSHIP RATE 67.4% 2.6% higher than the rate in the 3rd quarter 2019 and not statistically different from the rate in the 2nd quarter 2020

Source: U.S. Census Bureau (2020) Quarterly Residential Vacancies andHomeownership, Third Quarter 2020. Next Release: February 2, 2021