PrintUS single-family housing starts rebound in October, building permits dip
BY Reuters | ECONOMIC | 08:46 AM ESTWASHINGTON, Jan 9 (Reuters) - U.S. single-family homebuilding rebounded in October, but permits for future construction eased, signaling caution among ?builders as new housing inventory remains high ?and demand soft.
Single-family housing starts, ?which account for ?the bulk ?of homebuilding, increased 5.4% to a seasonally ?adjusted annual rate of ?874,000 units in October, the Commerce Department's Census Bureau ?said on ?Friday. ?Starts dropped to a pace of 829,000 units in September from ?a 869,000-unit pace in August.
The reports were delayed by the 43-day government shutdown. Builders are also being constrained ?by ?higher building and labor costs because of import tariffs and ?an immigration crackdown.
Permits for future single-family homebuilding fell 0.5% to a rate of 876,000 units in October. They increased to a ?pace of 880,000 units in September from a 858,000-unit rate in August (Reporting by ?Lucia Mutikani Editing by Mark Potter)
