20 Oct 2015
US housing starts rise to near 8-year high in September
FXStreet (Mumbai) - According to government data released Tuesday, the housing starts in the US rose 6.5% to an annual rate of 1.21 million in September, beating the estimated rise to 1.15 million from August’s 1.126 million.
Housing starts had declined in the previous two months. The rise in September brings starts back close to June's level, which was an eight-year high.
Meanwhile, building permits; a sign of future demand, fell 5.0% in September to 1.10 million. Multi-family permits lowest since December 2014, while permits of single-family homes fell 0.3% to an annual rate of 697000.
Housing starts had declined in the previous two months. The rise in September brings starts back close to June's level, which was an eight-year high.
Meanwhile, building permits; a sign of future demand, fell 5.0% in September to 1.10 million. Multi-family permits lowest since December 2014, while permits of single-family homes fell 0.3% to an annual rate of 697000.