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U.S. Housing Starts Fell 1.6% Month-On-Month In September

U.S. Housing Starts Fell 1.6% Month-On-Month In September

US September housing starts fell unexpectedly by 1.6% month-on-month to 1.555 million, which was higher than the 0.9% drop expected by the market and the lowest in nearly five months. Among them, the number of new housing starts in the northeastern region of the United States fell the most, with a monthly drop of 27.3%. Mainly dragged down by issues such as rising building material prices, tight supply and labor shortages. However, the number of new housing starts in the western region increased by 19.3%. Over the same period, the number of constructions permits fell by 7.7% to 1.589 million monthly, which was also lower than market expectations. The data may reflect that real estate developers are more cautious about the prospects of the property market.
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