United States Housing Starts

Housing starts in the United States eased by 0.5% from the previous month to an annualized rate of 1.354 million units in September of 2024, in line with market expectations, trimming the downwardly revised 7.8% increase in August. Starts of houses with five units or more sank by 4.5% from the previous month, which totaled an annualized rate of 317 thousand, while starts of single-family homes rose by 2.7%, equivalent to an annualized rate of 1.027 million. Among different geographical regions, starts fell in the south (-3.4% to 738 thousand), the West (-10.1% to 257 thousand), and the Midwest (-9.1% to 179 thousand). On the other hand, housing starts rose sharply in the Northeast (57.9% to 180 thousand).