Housing Starts Rise

Bill Hitchcock

HousingHousing Starts Rise
The South shows greatest gains
Housing starts rose 0.5 percent in September compared to August to an annual rate of 590,000, according to a report released Tuesday by the U.S. Commerce Department.

Single-family home construction, which accounts for 85 percent of the market, increased 3.9 percent to a 501,000 annual rate. Multi-family housing fell 15 percent to an 89,000 rate.

Building permits, an indicator of future construction, declined 1.2 percent from the August rate to a 573,000 annual rate in September.

Most of the gain in single-family starts was attributable to a 7.1 percent increase in the South. The other regions fell with the West declining 8.8 percent.

Source: Bloomberg News, Courtney Schlisserman (10/20/2009)

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Author’s Yougler Profile is at  Bill Hitchcock.

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