Housing Starts Fall to 26-Year Low

New home construction fell to a 26-year low in September, the Commerce Department said Friday.

The 12% decline of single-family starts put the annual rate at 544,000 units, and left the overall rate at 817,000 units.

Total starts were projected to fall to an 872,000 unit annual pace, Bloomberg reported.
 
Building permits, an indicator of new construction, fell 8.3% to an annual pace of 786,000 units.