US housing starts drops, but permits rose in September
However, construction of single-family houses maintained a rise of 8.1% to 783,000 units in September.
According to the Commerce Department, US building permits for privately owned housing units were up by 6.3% to an annualized pace of 1.225 million on a seasonally adjusted basis in September compared to the previous month while economists had expected building permits to increase to 1.17 million units in a survey by The Wall Street Journal.
Meanwhile, building permits rose 0.6% in the first nine months of 2016 from the same period last year while single family starts rose 8.6% in the first nine months of the year.
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