U.S. housing starts rebound in September

A contractor drills a wood stud while framing a home under construction Park City, Utah, on Friday, Aug. 14, 2020.

George Frey | Bloomberg | Getty Images

U.S. homebuilding rebounded in September as the housing market continued to be the star of the economic recovery, driven by record-low interest rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling.

Housing starts increased 1.9% to a seasonally adjusted annual rate of 1.415 million units last month, the Commerce Department said on Tuesday. Data for August was revised down to a 1.388 million-unit pace from the previously reported 1.416 million.

Economists polled by Reuters had forecast starts increasing to a rate of 1.457 million units in September.


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