Regionally, starts activity was mixed in September. The Northeast and West each posted double-digit declines (of 21 percent and 16.8 percent, respectively), while the Midwest and South each posted modest gains (of 5.6 percent and 0.5 percent, respectively).

Privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 786,000. This is 8.3 percent below the revised August rate of 857,000 and is 38.4 percent below the revised September 2007 estimate of 1.277 million.

Overall permits were down in three out of four regions in September, with the Midwest, South and West posting declines of 9.8 percent, 9.9 percent and 12.7 percent, respectively. The Northeast, which has experienced greater-than-usual volatility in starts and permits numbers due to a recent building code change in New York City, posted a 13.4 percent gain in September following sharp declines in the two previous months.

Privately owned housing completions in September were at a rate of 806,000; this is 17 percent above the August figure of 689,000. The September rate for units in buildings with five units or more was 260,000.