New residential construction saw an overall rise in September, from both August levels and September 2013 levels.

Privately-owned housing units authorized by building permits increased by 1.5 percent from August to September, reaching a seasonally adjusted annual rate of 1,018,000. This is 2.5 percent above the September 2013 estimate
of 993,000.

Single-family authorizations were at a rate of 624,000, 0.5 percent below August's rate of 627,000. Multi-family authorizations were at a rate of 369,000 in September.

Privately owned housing starts in September were at a seasonally adjusted annual rate of 1,017,000, 6.3 percent above the seasonally adjusted August estimate of 957,000. This is 17.8 percent above the September 2013 rate of 863,000.

Single-family housing starts in September rose 1.1 percent from August, reaching 646,000 from 639,000. The September rate for buildings with five or more units was 353,000.

Privately owned housing completions increased 8.6 percent from August to September. September's seasonally adjusted annual rate was 999,000; August's estimate was 920,000. September 2013's rate was 761,000, marking a 31.3 percent increase from September 2013 to September 2014.

Single-family housing completions in September rose 1.0 percent from August's rate, from 618,000 to 624,000. The September multi-family rate was 368,000.