US Single-Family Housing Starts Plunge as Permits Hit 3-1/2-Year Low
Single-family homebuilding fell sharply in September, while permits for future construction dropped to a 3-1/2-year low. The report said higher mortgage rates suppressed demand.
By Lucia MutikaniUS single-family homebuilding fell sharply in September and permits for future construction tumbled to a 3-1/2-year low as higher mortgage rates suppressed demand, suggesting residential investment resumed its declining trend in the third quarter.The report from the Commerce Depart…