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Housing Starts in U.S. Declined in August on Plunge in South | Tony Seruga
Sep
20

Housing Starts in U.S. Declined in August on Plunge in South

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  • Permits, proxy for future construction, show unexpected drop
  • Mortgage rates, job gains still likely to support housing

New U.S. home construction fell more than projected in August as a plunge in the South, the biggest region for building, more than offset gains in the rest of the country.

Residential starts declined 5.8 percent to a 1.14 million annualized rate, from the prior month’s revised 1.21 million pace, a Commerce Department report showed Tuesday in Washington. The median estimate of economists surveyed by Bloomberg called for a drop to 1.19 million. Permits, a proxy for future construction, unexpectedly slipped on fewer applications for apartment projects…

Housing Starts in U.S. Declined in August on Plunge in South

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