Housing starts slow in September
Analysts had expected a housing starts dip for September, a month that included a destructive visit from Hurricane Florence in the middle of the month. The actual numbers were a little softer than expected.
Housing starts for September were at a seasonally adjusted annual rate of 1,201,000, down 5.3% from the downwardly revised August rate. Compared to a year ago, housing starts were up 3.7%.
Single‐family housing starts in September were at a rate of 871,000, down 0.9% from the revised August figure of 879,000.
Building permits for the month were relatively stable -- down 0.6% for the month and down 1.0% compared to September 2017.
Looking at the numbers by region, total housing starts in the South declined 13.7% compared to August, and single-family starts declined 6.8%. Meanwhile, month-over-month total housing starts were up 29.0% in the Northeast.
Housing starts for September were at a seasonally adjusted annual rate of 1,201,000, down 5.3% from the downwardly revised August rate. Compared to a year ago, housing starts were up 3.7%.
Single‐family housing starts in September were at a rate of 871,000, down 0.9% from the revised August figure of 879,000.
Building permits for the month were relatively stable -- down 0.6% for the month and down 1.0% compared to September 2017.
Looking at the numbers by region, total housing starts in the South declined 13.7% compared to August, and single-family starts declined 6.8%. Meanwhile, month-over-month total housing starts were up 29.0% in the Northeast.