Housing starts decline in September

Housing starts fell 4.7 percent from August to September, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 1.127 million compared with a revised estimate of 1.183 million in August.

Single-family housing starts decreased 4.6 percent to 829,000. Building permit applications, which are viewed as a barometer of future construction, decreased 4.5 percent in September to 1.215 million.

Housing starts are well above the April 2009 annual rate of 478,000, which was the recession low. They also are 6.1 percent higher than in September 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 10/20/2017