US housing starts rebound, but permits fall in September
The data showed that construction of single-family houses edged up 0.3% to an annualized pace of 740,000 units while housing starts for multi-family houses rose 18.3% to an annual pace of 466,000 units in September, posting the highest level seen since June.
Meanwhile, September building permits, an indicator of future construction, declined 5% to a seasonally adjusted annualized pace of 1.1 million units, lower than Wall Street Journal economists’ estimates, which called for a rate of 1.16 million units.
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