Housing Starts Remain Flat, With Slight Decline from August
Housing starts in September reached an annual rate of 1.354 million, representing a minor 0.5% decline from the revised August figure of 1.361 million. This was also 0.7% below the September 2023 rate of 1.363 million. The single-family sector fared better, with starts increasing by 2.7% from August to reach 1.027 million units. In contrast, the multifamily segment continues to struggle, with starts for buildings of five units or more falling to 317,000.
Housing Completions Surge 14.6% Year-on-Year
The highlight of the report came from housing completions, which surged 14.6% compared to September 2023, reaching a seasonally adjusted annual rate of 1.680 million units. However, this is still a 5.7% decrease from the previous month’s estimate of 1.781 million. Single-family completions stood…
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