Housing starts rose 13.7% MoM in October to 1,290K units SAAR (or 1.29 million). However, the largest share of housing starts were in the 5+ unit (multifamily) category. Multifamily units grew at a rate of 37.4% MoM.
October was the highest growth in 5+ unit starts in 2017.
This post was published at Wall Street Examiner on November 17, 2017.