·
Housing starts fell more than expected last month and reversed
September's spike. Starts fell 11.4% m/m. The run-up in September was
lessened slightly.
· Single family starts were relatively
firm, falling 7.0% from the previous month. September's starts rose
16.3% (downwardly revised).
· Multi-family starts fell a sharp
29.3% following a 6.3% decline in September that was revised deeper.
· Building permits rose 1.7% m/m to near the highest level of the year.