September Housing Starts Down 10.2%

Nationwide housing starts declined 10.2 percent in September as builders focused on reducing their inventories in the midst of continuing mortgage market travails, according to data released by the U.S. Commerce Department. The majority of the downward movement was centered in the multifamily sector, where a significant uptick in starts had been registered in the previous month.

Overall housing starts fell to a seasonally adjusted annual rate of 1.19 million units, the slowest since M

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