NEW RESIDENTIAL CONSTRUCTION IN SEPTEMBER 2009

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2009:

The U.S. Census Bureau Internet site is: http://www.census.gov/newresconst

BUILDING PERMITS

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 573,000.

This is 1.2 percent (±1.8%)* below the revised August rate of 580,000 and is 28.9 percent (±2.2%) below the September 2008

estimate of 806,000.

Single-family authorizations in September were at a rate of 450,000; this is 3.0 percent (±1.0%) below the revised August figure of

464,000. Authorizations of units in buildings with five units or more were at a rate of 104,000 in September.

HOUSING STARTS

Privately-owned housing starts in September were at a seasonally adjusted annual rate of 590,000. This is 0.5 percent (±9.9%)* above

the revised August estimate of 587,000, but is 28.2 percent (±6.7%) below the September 2008 rate of 822,000.

Single-family housing starts in September were at a rate of 501,000; this is 3.9 percent (±9.3%)* above the revised August figure of

482,000. The September rate for units in buildings with five units or more was 78,000.

HOUSING COMPLETIONS

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 693,000. This is 10.2 percent

(±10.4%)* below the revised August estimate of 772,000 and is 39.6 percent (±5.7%) below the September 2008 rate of 1,148,000.

Single-family housing completions in September were at a rate of 464,000; this is 8.3 percent (±14.3%)* below the revised August

figure of 506,000. The September rate for units in buildings with five units or more was 210,000.

New Residential Construction data for October 2009 will be released on Wednesday, November 18, 2009, at 8:30 A.M. EST.

Is this good for the Real Estate Industry?

Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell)

NJ Estates Real Estate Group Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069

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