U.S. housing starts fell 5.2% in September to a 1.22 million pace
Census Bureau data showed September housing starts at a seasonally adjusted annual rate of 1,221,000, down 5.2% from August and 7.4% from a year earlier; permits were 1,400,000.
Privately owned housing starts ran at a seasonally adjusted annual rate of 1,221,000 in September 2026, 5.2% below the revised August estimate of 1,288,000 and 7.4% below September 2025, the Census Bureau reported on October 20.
Single-family starts were 859,000, down 4.6% from August. Building permits, an early signal of future construction, were 1,400,000, about flat from August and 3.0% below a year earlier. Single-family permits fell 4.0% to 845,000.
Completions rose 2.2% from August to 1,192,000 but were 14.0% lower than a year earlier. The Census Bureau notes that several of these monthly changes are within the survey's margin of error.
Why it matters to investors
Fewer new homes being started means less new supply competing with resale houses and rentals in coming years. If you invest in fast-growing suburbs, watch local permit counts alongside these national numbers.
Source: U.S. Census Bureau: New Residential Construction, September 2026