Posted To: MND NewsWire
Both permits and housing starts fell in September following an unanticipated increase the previous month. Where the August gains were driven primarily by strong multifamily construction activity, a decline in that sector hurt the September metrics. Permitting was especially weak, with the lowest seasonally adjusted annual rate since September 2020’s nearly identical number. Permits were issued at a rate of 1.589 million compared to a revised rate of 1.721 million in August, a decline of 7.7 percent. The August permits were originally reported at a rate of 1.728 million. As noted, there was no change from a year earlier. The forecasts for permits from analysts polled by Econoday all exceeded the reported number, ranging from 1.620 million to 1.725 million units. The consensus from both Econoday…(read more)
