MNI: Key Points In September New Residential Construction Data>

By Kevin Kastner, Sara Haire, and Holly Stokes

     WASHINGTON (MNI) - The following are the key points from the 

September new residential construction data released Wednesday by the 

Commerce Department: 

     -September housing starts -4.7% to 1.127 million rate, below 

expectations for 1.170 million. Permits -4.5% to 1.215 million 

rate, below 1.245m expected.  

     -Starts declines seen in Northeast (-9.2%), Midwest (-20.2%), and 

South (-9.3%), but West saw a gain (+15.7%).

     -Commerce has no comments on hurricane impact in September. Noted 

in August that affected areas had accounted for 13% of total US and 26% 

of South in 2016. 

     -Single-family housing starts -4.6% in September, multi-family 

-5.1%. For permits, single-family +2.4%, multi-family -16.1%.

     -Homes permitted but not started +1.4%, suggesting starts could 

rise in near future. 

     -Homes under construction +0.3% and completions +1.1%, so near-term 

supply of new homes for sale should rise.

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]