September Housing Starts Jump

New home construction jumped in September after declines in the two previous months. The Commerce Department reported that September Housing Starts rose 6.5 percent from August to an annual rate of 1.206 million units, above the 1.150 million expected. The report went on to reveal that single-family housing starts rose modestly, while multifamily units surged 17 percent. Building Permits, a sign of future construction, fell 5 percent.