In September 2017, US housing starts fell from an upwardly revised August number of 1.183 million to 1.127 million units. This reading was a negative surprise and below the market expectation of 1.180 million units. Single-family housing starts were reported at 829,000, which was also below the August reading of 869,000. The highly volatile multi-family starts (apartments) fell 5.1%.Notably, the US Census Bureau has stated that the housing starts data figures are too volatile to be observed monthly and recommends an observation of three months to understand the underlying trend in housing starts.
Source: Market Realist