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Single-family Housing Starts Jump 8.5%

Mortgage News > Single-family Housing Starts Jump 8.5%
Date: 10/20/2020    Single-family Housing Starts Jump 8.5%

New U.S. homebuilding increased 1.9% in September, to a seasonally adjusted annual rate of 1.42 million, according to the U.S. Census Bureau, led by an 8.5% surge in single-family home starts. Multi-family construction fell 16.35 to an annual pace of 307,000 units. The number of permits for all new homes jumped 5% to an annual rate of 1.55 million. Builders are revving up production thanks to ultra-low mortgage rates and COVID-19-inspired relocations.

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