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Housing Starts

Housing Starts Positive Surprise In September

The consensus range for housing starts was 1.100M to 1.205M. The actual number was 1.206M to just squeak out a positive surprise to the upside.

Housing starts rose 6.5%. The multi-family component rocketed higher by 18.3% to 466K. Single family starts were only up 0.3% to 740K. Once again it’s a situation of growing demand for apartments due to consumers who can’t afford to buy a house.

The permit component of the report dropped -5% to 1.103M.

Housing Starts

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