Housing Starts, Permits Increase in September

Washington, DC, Oct. 17, 2014 — Housing starts rose 6.3% to an annual rate of 1.02 million from a 957,000 pace in August, the Commerce Department reported.

Economists forecast a 1 million rate. Starts increased on both multifamily and single-family homes.

Building permits also rose 1.5% to an annualized rate of 1.02 million from last month’s revised level of 1.003 million.

Single-family housing starts in September were at a rate of 646,000; this is 1.1% above the revised August figure of 639,000. The September rate for units in buildings with five units or more was 353,000.