After surprising top the upside in August, Housing Starts and Building Permits disappointed in September, declining more than expected (-0.5% MoM and -2.9% MoM respectively)...

Under the hood, multi-family permits plunged 10.8% MoM (and multi-family starts dropped for the second straight month). Single-family starts rose 2.7% MoM and permiots inchjed higher by 0.3% MoM...

Rate-cut expectations appear to have taken the excitement out of the building market...

Housing Completions also dropped (but the BLS thinks construction jobs continue to rise non-stop)...

So, The Fed cuts short-term rates... mortgage-rates rise... and builders slow their building plans... that's not how it's supposed to work!

So, The Fed cuts short-term rates... mortgage-rates rise... and builders slow their building plans... that's not how it's supposed to work! 
{ai:summary}In September, Housing Starts and Building Permits fell short of expectations, declining by 0.5% and 2.9% month-over-month, respectively. Multi-family permits dropped significantly, while single-family starts saw a slight increase. The anticipated rate cuts may have dampened enthusiasm in the building market, leading to a slowdown in construction plans despite rising construction jobs. #economy

US Housing Starts & Building Permits Plunge In September

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