Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside

Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside There’s something for bulls and bears alike to cheer about in today’s housing starts report. Starts were ever-so-slightly above the top Econoday Estimate but permits were well below the lowest economist’s estimate. Starts, driven by a spike in multi-family units, came in much stronger than expected in September, news offset however by a significant decline in permits.

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Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside