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52 | TH E M R EP O RT THE LATEST C M Y CM MY CY CMY K GOVERNMENT U.S. Census Bureau and HUD Report Housing Stats A joint report found that new residential construction statistics saw a decline recently. T he U.S. Census Bureau and the U.S. Department of Hous- ing and Urban Development (HUD) jointly released the new residential construction statistics for Sep- tember 2017—reporting a decline in U.S. new home construction. The data reveals privately owned housing units authorized by building permits were at a seasonally adjusted an - nual rate of 1,215,000. At 4.5 percent, this represents a 1.6 percent decrease from the previous month's rate of 1,272,000 and is 4.3 percent below September 2016's rate of 1,270,000. However, single-family home starts were at 819,000 in September, rep - resenting a 1.7 percent increase above the revised August figure of 800,000. As for housing starts for September, single-family home starts fell to 829,000 in September, from 869,000 the prior month. Meanwhile, privately owned housing starts were at a seasonally ad - justed annual rate of 1,127,000—this is 4.7 percent below the August estimate, but is 6.1 percent above the September 2016 rate. Additionally, the report notes that privately owned housing completions for this month increased compared to both August and September 2016, with a sea - sonally adjusted annual rate of 1,109,000. Single-family housing completions were at a rate of 781,000, also representing an increase. Specifically, single-family hous - ing completions increased 4.6 percent compared to August's rate.

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