US home construction fell 9 percent in September
WASHINGTON (AP) — Homebuilders pulled back on construction for a second straight month in September, with a plunge in apartments offsetting gains in single-family homes.
Construction tumbled 9 percent in September to a seasonally adjusted annual rate of 1.05 million units, the Commerce Department reported Wednesday.
"Given the volatility of the multifamily sector, there is not enough in this report to suggest the steady uptrend in housing starts is changing yet," economists at Contingent Macro Research said in a research note.