Homebuilding Mixed in September as Higher Rates Loom

Single-family housing starts rise 3.2% in September after falling in August, but soaring mortgage rates could slow momentum.

Building permits fall 4.4% overall in September, though single-family permits rise 1.8% to highest since May.

Multi-family housing starts jump 17.1% in September, but permits drop 14.0% to lowest since October 2020.

Homebuilder confidence slumps to 9-month low in October amid highest mortgage rates since 2000.

Housing inventory remains low, but large pipeline of units under construction could help ease price pressures when units hit market.