Comments on September Housing Starts

Earlier: Housing Starts decreased to 1.256 Million Annual Rate in September

Total housing starts in September were below expectations, however starts for July and August were revised up combined.

The housing starts report showed starts were down 9.4% in September compared to August, and starts were up 1.6% year-over-year compared to September 2018.

Single family starts were up 4.3% year-over-year, and multi-family starts were down 5.8% YoY.   Much of the weakness this month was in the volatile multi-family sector, still – overall – this was a decent report.

This first graph shows the month to month comparison for total starts between 2018 (blue) and 2019 (red).

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