Mortgage Industry News
« Return to Mortgage Industry News
For Better or Worse, Multi-Family Drives Construction Numbers
Tuesday, October 20, 2015
Multi-family home construction drove the numbers for most of
the September report on residential construction issued today by the U.S.
Census Bureau and the Department of Housing and Urban Development. Permitting was down while housing starts
posted a respectable gain.
Construction permits were issued at a seasonally adjusted
annual rate of 1,103,000 units, down 5.0 percent from the downwardly revised
August rate of 1,161,000 (originally 1,170,000.) The September rate was 4.7 percent higher
than a year earlier when the estimate was 1,053,000 units.
Read Full Article