US Housing Starts Fall 5.2% to Four-Month Low

U.S. housing starts fell 5.2% in September to a seasonally adjusted annual rate of 1.221 million, below expectations and the lowest level since May. Starts declined for a third consecutive month and were 7.4% below September 2025, with both single-family and multifamily construction falling. Building permits edged down 0.2% to 1.4 million, as fewer single-family authorizations were partly offset by an increase in multifamily permits. Elevated mortgage costs and sluggish demand are weighing on builders and contributing to a more cautious pace of construction.