Multifamily volatility drags down housing starts
Nationwide | October 17, 2018
Housing starts decreased 5.3% in September, primarily due to volatility in the multifamily sector, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Nationwide Senior Economist Ben Ayers said: "starts were off in September, driven mainly by volatility in multifamily construction. Still, the market exhibits enough demand for new builds to drive further single-family construction ahead, despite higher mortgage rates."