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In October, single-family housing starts dipped 4.5 percent, from 549,000 units to 531,000, according to Census Bureau reports.
The slowdown was expected as “surveys of builder confidence and market expectations have been hovering in a historically low range for the past nine months,” says Sandy Dunn, president of the National Association of Home Builders (NAHB).
The multifamily housing starts rate paralleled the continued deterioration in the single-family market, dipping 6.8 percent in October from 279,000 units to 260,000 units.
