Housing Starts Rise In September

But they are still before year-ago rate.

Housing starts for privately owned residences were at a seasonally adjusted annual rate of 1.772 million in September, 5.9% above the revised August rate of 1.674 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development jointly reported on Oct. 18.

September's start rate, however, was 17.9% below the September 2005 rate of 2.158 million.

Single-family housing starts were at an annual rate of 1.426 million in September, 4.3% higher than the August rate of 1.367 million. Starts for units in multi-family buildings were at an annual rate of 314,000 in September.

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