Housing starts, building permits fall more than expected in September

• September Housing Starts: -1.6% M/M to 1.555M vs. 1.621M expected and 1.580M prior (revised from 1.615M).
• Single-family housing starts were 1.08M, virtually unchanged from the revised August figure.
• Building permits: -7.7% to 1.589M vs. 1.680M expected and 1.721M prior (revised from 1.728M).
• Single-family authorizations were at a rate of 1.041M, down 0.9% from the revised August rate of 1.050M.
• Housing completions were a seasonally adjusted annual rate of 1.24M, down 4.6% from the revised August estimate of 1.300M. Single-family housing completions of 953K were unchanged from the revised August rate.