US housing starts fell 5.2% in September 2026 to a seasonally adjusted annual rate of 1.221 million, the U.S. Census Bureau announced on October 20. Building permits also declined, while completed homes increased from August but remained sharply below their year-earlier pace.
Key Takeaways
- Housing starts were 7.4% below September 2025, although the estimated decline carries substantial statistical uncertainty.
- Total permits edged down 0.2%, with single-family authorizations falling more sharply.
- Housing completions rose 2.2% from August but remained 14.0% below a year earlier.
Table of Contents
- US housing starts decline from revised August level
- Permits soften while completions show a mixed picture
- Conclusion
US housing starts decline from revised August level
September’s annualized construction pace fell from a revised 1.288 million in August. Single-family starts also decreased, dropping 4.6% to an annual rate of 859,000 from 900,000.
The Census Bureau’s September 2026 residential construction release shows weakness in both the monthly and annual comparisons. However, the reported uncertainty ranges for total starts—plus or minus 11.8 percentage points monthly and 11.5 percentage points annually—span zero, meaning the estimates do not establish a statistically clear decline.
The seasonally adjusted annual rate describes the pace of construction if that month’s adjusted activity continued for a full year; it is not the number of homes actually started during September.
| Item | Details |
|---|---|
| Single-family permits | 845,000 annual rate; down 4.0% from August. |
| Permits in buildings with five or more units | 503,000 annual rate. |
| Starts in buildings with five or more units | 349,000 annual rate. |
| Single-family completions | 840,000 annual rate; down 2.4% from August. |
Permits soften while completions show a mixed picture
Building permits totaled an annual rate of 1.400 million, down from a revised 1.403 million in August and 3.0% below September 2025. The relatively small overall monthly decline contrasted with a steeper drop in single-family authorizations.
Permits track authorized construction, starts measure projects getting under way, and completions record finished homes. Their different movements therefore describe separate stages of the housing construction pipeline rather than a single measure of activity.
Total completions increased to an annual rate of 1.192 million from a revised 1.166 million in August. Single-family completions moved in the opposite direction, declining from the previous month. The monthly increase in total completions also carried an uncertainty range that included zero.
Conclusion
September’s estimates pointed to softer construction starts and authorizations, alongside an uneven completion picture. Subsequent monthly releases and revisions will be important for assessing whether that weakness persists, given the uncertainty surrounding the latest starts estimates.
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