WASHINGTON, DC—Housing starts made a nice jump in September, fueled in large part by multifamily activity.
Privately-owned housing starts rose 17.3% in September year over year, to a seasonally adjusted 1,017,000, according to a US Commerce Department report released on Friday. September's starts also represent a 6.3% increase over the revised August estimate of 957,000.
Single-family housing starts in September were at a rate of 646,000; this is 1.1% above the revised August figure of 639,000. Tellingly, the September rate for units in buildings with five units or more was 353,000.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
