Housing begins fall 11% in October, however permits rebound

November 18, 2015 1:56 PM

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WASHINGTON (MarketWatch) – Construction on new U.S. homes declined by 11% in October to an annual rate of 1.06 million, marking the lowest level since the early spring.

Economists polled by MarketWatch had expected starts to fall to a seasonally adjusted 1.15 million. Housing starts in September were also revised down to a 1.19 million annual rate from 1.21 million, Commerce Department data show. Yet permits for new construction, a sign of future demand, rose 4.1% ...

Also read: Detroit’s Struggling Housing Market Gets a Boost

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