Housing Starts Slide -4.7% in September But Maintain Healthy +6.1% Pace Over 2016

September housing starts were at a seasonally adjusted annual rate of 1,127,000 according to the U.S. Census Bureau. This is 4.7% below the revised August estimate of 1,183,000, but 6.1% above the Sept. 2016 rate of 1,062,000. Single-family housing starts in September were at a rate of 829,000, -4.6% below the revised August figure of 869,000.

Builder confidence for newly-built single-family homes rose four points to a level of 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).  NAHB said the current reading shows home builder sentiment is rebounding from the initial reaction of concern due to hurricanes in Florida and Texas.