US housing starts drop in September

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USCensus/Fordaq
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US housing starts fell 1.6% in September, below expectations, the Census Bureau reported on Tuesday.

Housing starts reached an annual rate of 1.56 million units, down from a revised 1.58 million in August.

Privately owned housing starts came in at a seasonally adjusted annual rate of 1.56 million units, slightly lower than August's revised pace of 1.58 million units and 7.4% above the 1.45 million rate of September 2020.

Permits for privately owned housing were at a seasonally adjusted annual rate of 1.59 million in September, down 7.7% from August's revised rate of 1.72 million, but virtually unchanged from the September 2020 rate.

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