Oct
19
U.S. Housing Starts Unexpectedly Drop on Multifamily-Unit Slide
By-
Permits jump 6.3 percent to the fastest pace since November
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Data suggest homebuilding dragged down third-quarter growth
New-home construction in the U.S. unexpectedly fell in September on a plunge in multifamily building while permits rose more than forecast, in signs of fitful progress in residential real estate.
Residential starts declined 9 percent to a 1.05 million annualized rate, the lowest since March 2015, a Commerce Department report showed Wednesday in Washington. The median forecast of economists surveyed by Bloomberg called for a rise to 1.18 million. Permits, a proxy for future construction, jumped 6.3 percent to the fastest pace since November…
U.S. Housing Starts Unexpectedly Drop on Multifamily-Unit Slide
