US housing starts soar 7% in September

Building permits, however, fall 4.4% from previous month

By Ovunc Kutlu

ISTANBUL (AA) - US housing starts soared 7% in September compared to the previous month, according to data released Wednesday.

Housing starts, which measure the change in the number of new residential buildings beginning construction, stood at 1.358 million, according to the Census Bureau and the Department of Housing and Urban Development.

The figure followed a massive decline of 12.5% in August, when it stood at 1.269 million.

Annually, housing starts were down 7.2% in September compared to the same month of last year.

Building permits, a key indicator of demand in the market, fell 4.4% to 1.473 million in September.

In August, building permits rose 6.8% to 1.541 million.

On an annual basis, building permits were down 7.2% from the same month of 2022.

Kaynak:

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