U.S. Housing Starts Fall To 1.486 Million Rate

Decline is dramatically below expected rate of 1.68 million.

Starts for privately owned housing in the U.S. fell to a seasonally adjusted annual rate of 1.486 million in October, 14.6% below the revised September rate of 1.74 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development jointly reported on Nov. 17.

Starts of single-family homes were at a seasonally adjusted annual rate of 1.177 million, 15.9% below September's 1.4 million. The start rate for multi-family housing was 266,000 units, down 14.7% from September's 312,000.

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