Reuters logo
September housing starts up 15 percent on multi-family
October 19, 2011 / 12:39 PM / 6 years ago

September housing starts up 15 percent on multi-family

WASHINGTON (Reuters) - U.S. housing starts surged in September at their fastest annual pace in 17 months on a big increase in groundbreaking for multi-family units, while permits for future construction fell, a government report showed on Wednesday.

The Commerce Department said housing starts increased 15.0 percent to a seasonally-adjusted annual rate of 658,000 units. That blew away analysts’ forecasts of an increase to a 590,000-unit rate.

Housing starts for buildings with two or more units rose 51.3 percent to a 233,000-unit rate. Single-family home construction -- which accounts for a larger share of the market -- increased 1.7 percent to a 425,000-unit pace.

Reporting by Jason Lange, Editing by Chizu Nomiyama

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below