US Single-Family Homebuilding Reaches Five-Month High Amid Economic Uncertainty

Despite a rise in construction starts, high mortgage rates and excess inventory continue to challenge the housing market.

Single-family housing starts increased by 2.7% in September, reaching an annual rate of 1.027 million units.
Building permits for future single-family homes rose marginally by 0.3%, highlighting ongoing market hesitancy.
The housing market remains affected by high mortgage rates, with buyers delaying purchases in anticipation of further rate cuts.
Economic growth in the third quarter was dampened by residential investment, which has yet to drive significant economic expansion.
Hurricanes in the Southeast may temporarily impact construction, but rebuilding efforts could later boost homebuilding activity.